Industrial machinery maker Gardner Denver (GDI) is technically posting a pocket pivot today on very heavy volume, but this is due to the pricing of a 22 million share secondary offering at 27.25. The offering was apparently well-absorbed, since the stock is trading over 49 million shares so far today, well more than twice the amount of the secondary stock offering of 22 million shares. Also, note that the stock has successfully tested the 27.59 intraday of low of a buyable gap-up (BGU) move it had on October 26th, about three weeks ago.
Pocket Pivot Review - Gardner Denver (GDI)
|Published:||16 Nov 2017 12:19 ET|
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