The stock of ITUS Corp (NASDAQ:ITUS) gapped up by $0.05 today and has $7.50 target or 53.00% above today’s $4.90 share price. The 5 months technical chart setup indicates low risk for the $50.99M company. The gap was reported on Oct, 4 by Barchart.com. If the $7.50 price target is reached, the company will be worth $27.02M 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 25.96% or $1.01 on October 3, hitting $4.9. About 169,460 shares traded hands or 591.84% up from the average. ITUS Corp (NASDAQ:ITUS) has risen 101.65% since March 1, 2016 and is uptrending. It has outperformed by 89.43% the S&P500.
According to Zacks Investment Research, “ITUS funds, develops, acquires and licenses emerging technologies in areas such as cancer diagnostics, encrypted communications and semiconductor fabrication. Anixa Diagnostics, a subsidiary of ITUS and the company’s main focus, is developing a platform for inexpensive, non-invasive cancer screening blood tests for the early detection of tumor based cancers.”
More notable recent ITUS Corp (NASDAQ:ITUS) news were published by: Marketwatch.com which released: “ITUS Corp.” on September 03, 2014, also Quotes.Wsj.com with their article: “News ITUS Corp.ITUS” published on October 08, 2014, Streetinsider.com published: “ITUS Corporation (ITUS) Announces Positive Cchek Platform Data in Detecting …” on September 28, 2016. More interesting news about ITUS Corp (NASDAQ:ITUS) were released by: Benzinga.com and their article: “15 Biggest Mid-Day Gainers For Monday” published on October 03, 2016 as well as Globenewswire.com‘s news article titled: “ITUS Corporation (Nasdaq: ITUS) to Ring The Nasdaq Stock Market Closing Bell” with publication date: June 02, 2016.
ITUS Company Profile
ITUS Corporation, formerly CopyTele, Inc., incorporated on November 05, 1982, is engaged in development, acquisition, licensing, and enforcement of patented technologies that are either owned or controlled by the Company or one of its wholly owned subsidiaries. As on December 29, 2014, the Company owns and controls eight patent portfolios, including Encrypted Cellular Communication, Internet Telephonic Gateway, J-Channel Window Frame Construction, Key Based Web Conferencing Encryption, Micro Electro Mechanical Systems Display, Nano Field Emission Display, VPN Multicast Communications and Enhanced Auction Technologies. The Firm monetizes its patented technologies, and settles patent infringement lawsuits. The Companyâ€™s business model is and Patent Assertion.
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