The stock of NEW PACIFIC HOLDINGS CORP (CVE:NUX) gapped up by $0.05 today and has $0.68 target or 4.00% above today’s $0.65 share price. The 9 months technical chart setup indicates low risk for the $36.82M company. The gap was reported on Nov, 30 by Barchart.com. If the $0.68 price target is reached, the company will be worth $1.47 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 16,500 shares traded hands or 211.44% up from the average. NEW PACIFIC HOLDINGS CORP (CVE:NUX) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.
More important recent NEW PACIFIC HOLDINGS CORP (CVE:NUX) news were published by: Marketwired.com which released: “New Pacific Appoints Vice-President, Corporate Development” on September 30, 2016, also Marketwired.com published article titled: “Early Warning News Release: New Pacific Acquires A 12.4% Stake in Aton …”, Marketwired.com published: “New Pacific Grants Stock Options” on November 02, 2016. More interesting news about NEW PACIFIC HOLDINGS CORP (CVE:NUX) was released by: Marketwired.com and their article: “New Pacific Reports Financial Results for the Three Months Ended September 30 …” with publication date: November 14, 2016.
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