The stock of Pason Systems Inc. (TSE:PSI) gapped down by $0.01 today and has $16.15 target or 6.00% below today’s $17.18 share price. The 7 months technical chart setup indicates high risk for the $1.41B company. The gap down was reported on Oct, 17 by Barchart.com. If the $16.15 price target is reached, the company will be worth $84.60 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 36,306 shares traded hands. Pason Systems Inc. (TSE:PSI) has risen 10.20% since March 10, 2016 and is uptrending. It has outperformed by 4.58% the S&P500.
More important recent Pason Systems Inc. (TSE:PSI) news were published by: Seekingalpha.com which released: “Pason Systems’ (PSYTF) CEO Marcel Kessler on Q2 2016 Results – Earnings Call …” on August 11, 2016, also Seekingalpha.com published article titled: “Pason Systems Is A Cash Cow (PSYTF)”, Seekingalpha.com published: “Pason Systems: Up 14% But Still A Good Value (PSYTF)” on May 19, 2015. More interesting news about Pason Systems Inc. (TSE:PSI) was released by: Forbes.com and their article: “Pason Systems Named Top 25 Dividend Stock With 3.77% Yield” with publication date: February 27, 2015.
Pason Systems Inc. is a provider of data management systems for drilling rigs. The company has a market cap of $1.41 billion. The Firm offers solutions, which include data acquisition, wellsite reporting, remote communications, and Web information management, enables collaboration between the rig and the office. It currently has negative earnings. It operates through three geographic divisions: Canada, the United States, and International .
PSI Company Profile
The PowerShares Dynamic Semiconductors (the Fund) seeks investment results that correspond generally to the price and yield (before the Fundâ€™s fees and expenses) of an equity index called the Dynamic Semiconductors Intellidex Index (the Semiconductors Intellidex). The Semiconductors Intellidex thoroughly evaluates companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors. PowerShares Capital Management LLC acts as the Fundsâ€™ investment adviser.
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