The stock of Aurora Labs Ltd (ASX:A3D) gapped up by $0.15 today and has $3.25 target or 9.00% above today’s $2.98 share price. The 8 months technical chart setup indicates low risk for the $41.72 million company. The gap was reported on Nov, 29 by Barchart.com. If the $3.25 price target is reached, the company will be worth $3.75M 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%. The stock increased 19.20% or $0.48 on November 29, hitting $2.98. About 180,130 shares traded hands or 79.69% up from the average. Aurora Labs Ltd (ASX:A3D) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
Another recent and important Aurora Labs Ltd (ASX:A3D) news was published by Theguardian.com which published an article titled: “3D printing and how it can revolutionise Australia’s remote communities” on October 05, 2016.
Aurora Labs Limited is engaged in the design, development and manufacture of three-dimensional metal printers and associated services and products. The company has a market cap of $41.72 million. The Firm also specializes in the development of printer software and the supply of associated consumable materials. It currently has negative earnings. It makes two models of small format printers (SFPs): the S-Titanium and S-Titanium Pro.
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