The stock of Junex Inc. (CVE:JNX) gapped up by $0.005 today and has $0.46 target or 3.00% above today’s $0.45 share price. The 9 months technical chart setup indicates low risk for the $37.54M company. The gap was reported on Nov, 29 by Barchart.com. If the $0.46 price target is reached, the company will be worth $1.13 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 223,700 shares traded hands or 330.04% up from the average. Junex Inc. (CVE:JNX) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
More news for Junex Inc. (CVE:JNX) were recently published by: Pennenergy.com, which released: “Junex provides operations update for its oil drilling pad” on June 26, 2015. Theglobeandmail.com‘s article titled: “Junex prepares to kick-start Quebec’s oil industry” and published on September 07, 2015 is yet another important article.
Junex Inc. is a junior oil and gas exploration company. The company has a market cap of $37.54 million. The Firm owns a division providing gas and oil well drilling services. It currently has negative earnings. The Firm holds exploration permits on approximately 3.8 million acres of land located in the Appalachian basin in the Province of Quebec.
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