The stock of VirnetX Holding Corporation (NYSEMKT:VHC) gapped up by $0.74 today and has $6.44 target or 57.00% above today’s $4.10 share price. The 8 months technical chart setup indicates low risk for the $224.25 million company. The gap was reported on Oct, 4 by Barchart.com. If the $6.44 price target is reached, the company will be worth $127.82M 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 33.99% or $1.04 during the last trading session, hitting $4.1. About 9.33 million shares traded hands or 1406.78% up from the average. VirnetX Holding Corporation (NYSEMKT:VHC) has declined 9.29% since March 1, 2016 and is downtrending. It has underperformed by 21.51% the S&P500.
Analysts await VirnetX Holding Corporation (NYSEMKT:VHC) to report earnings on November, 14.
According to Zacks Investment Research, “VirnetX Holding Corporation is engaged in developing products for real-time communications such as Instant Messaging and Voice over Internet Protocol, commercializing its patent portfolio and providing contract research, prototyping, systems integration and technical services.”
More notable recent VirnetX Holding Corporation (NYSEMKT:VHC) news were published by: Fool.com which released: “Why VirnetX Holding Corp. Stock Skyrocketed Today” on October 03, 2016, also Schaeffersresearch.com with their article: “Apple Boost Sparks Options Frenzy On VirnetX Holding Corporation (VHC)” published on October 03, 2016, Fool.com published: “Why VirnetX Holding Corp. Stock Plummeted Today” on August 01, 2016. More interesting news about VirnetX Holding Corporation (NYSEMKT:VHC) were released by: Ibtimes.com and their article: “VirnetX Holding Corp. (VHC) Stock Soars After $626M Patent Judgment Against …” published on February 04, 2016 as well as Fool.com‘s news article titled: “Why VirnetX Holding Corporation Stock Skyrocketed Today” with publication date: June 14, 2016.
VHC Company Profile
VirnetX Holding Corporation, incorporated on March 30, 2007, is an Internet security software and technology Company with a technology for secure communications, including fourth-generation (4G) long term evolution (LTE) security. The Company’s software and technology solutions, including its secure domain name registry and GABRIEL Connection Technology, are designed to facilitate secure communications and provide the security platform required by Internet applications, such as instant messaging (IM), voice over Internet protocol (VoIP), mobile services, streaming video, file transfer, remote desktop and machine-to-machine (M2M) communications. The Company’s portfolio is primarily focused on securing communications over the Internet, as well as related services, such as the establishment and maintenance of a secure domain name registry. The Company’s methods also have additional applications in the areas of device operating systems and network security for Cloud services, M2M communications in the initiatives, such as Smart City, Connected Car and Connected Home.
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