The stock of Aveda Transportation and Energy Svcs Inc (CVE:AVE) gapped up by $0.01 today and has $0.67 target or 3.00% above today’s $0.65 share price. The 5 months technical chart setup indicates low risk for the $12.61 million company. The gap was reported on Nov, 30 by Barchart.com. If the $0.67 price target is reached, the company will be worth $378,300 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 72,916 shares traded hands or 243.17% up from the average. Aveda Transportation and Energy Svcs Inc (CVE:AVE) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.
More recent Aveda Transportation and Energy Svcs Inc (CVE:AVE) news were published by: Marketwired.com which released: “Aveda Transportation and Energy Services Announces Results for the Fourth …” on April 04, 2016. Also Marketwired.com published the news titled: “Aveda Transportation and Energy Services Announces New CEO” on February 25, 2016. Marketwired.com‘s news article titled: “Aveda Transportation and Energy Services Provides Operational Update …” with publication date: October 14, 2015 was also an interesting one.
Aveda Transportation and Energy Services Inc. is a Canada firm engaged in the transportation of products, materials, and equipment required for the exploration, development and production of petroleum resources, including rig moving, heavy haul and hot shot services, and the rental of equipment associated with oilfields operations. The company has a market cap of $12.61 million. The Firm carries on its oilfield hauling activities in Canada and the United States under the name, Aveda Transportation and Energy Services; carries on its rental activities under the name, Aveda Rentals, and carries on specialized transportation services under Aveda Heavy Haul. It currently has negative earnings. The Company’s rental activities include the rental of tanks, mats, pickers, light towers, well-site shacks and other equipment necessary for oilfield operations.
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