The stock of EnWave Corp (CVE:ENW) gapped up by $0.01 today and has $1.30 target or 9.00% above today’s $1.19 share price. The 7 months technical chart setup indicates low risk for the $105.28 million company. The gap was reported on Nov, 30 by Barchart.com. If the $1.30 price target is reached, the company will be worth $9.48M 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 38,696 shares traded hands or 38.74% up from the average. EnWave Corp (CVE:ENW) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.
More important recent EnWave Corp (CVE:ENW) news were published by: Marketwired.com which released: “EnWave Corporation Retains The Equity Group to Provide Investor Relations Services” on February 24, 2016, also Marketwired.com published article titled: “EnWave Corporation Announces Closing of $5 Million “Bought Deal” Private Placement”, Seekingalpha.com published: “REV Your Engines: EnWave Corp. Ready To Capitalize On Groundbreaking Technology” on February 06, 2013. More interesting news about EnWave Corp (CVE:ENW) was released by: Finance.Yahoo.com and their article: “EnWave Corporation to Present at the 9th Annual LD Micro Main Event” with publication date: November 28, 2016.
EnWave Corporation is a Canada-based industrial technology company. The company has a market cap of $105.28 million. The Firm licenses, manufactures and installs commercial-scale dehydration platforms for applications in the food, pharmaceutical and industrial sectors to manufacturing companies. It currently has negative earnings. The Company’s divisions are EnWave and EnWave USA.
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