The stock of POET Technologies Inc (CVE:PTK) gapped down by $0.12 today and has $0.29 target or 10.00% below today’s $0.33 share price. The 9 months technical chart setup indicates high risk for the $68.71 million company. The gap down was reported on Oct, 28 by Barchart.com. If the $0.29 price target is reached, the company will be worth $6.87M 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 8.15M shares traded hands or 1915.84% up from the average. POET Technologies Inc (CVE:PTK) has risen 6.00% since September 28, 2016 and is uptrending. It has outperformed by 1.29% the S&P500.
More notable recent POET Technologies Inc (CVE:PTK) news were published by: Stockhouse.com which released: “IIROC Trade Resumption – POET Technologies Inc.” on October 28, 2016, also Globenewswire.com with their article: “POET Technologies Reports Another Significant Step Toward Its Goal of …” published on August 09, 2016, Seekingalpha.com published: “POET Technologies Has No Poetry” on September 06, 2015. More interesting news about POET Technologies Inc (CVE:PTK) were released by: Streetinsider.com and their article: “Form 6-K POET TECHNOLOGIES INC. For: Oct 12” published on October 12, 2016 as well as Seekingalpha.com‘s news article titled: “POET Technologies Revisited” with publication date: September 27, 2014.
POET Technologies Inc. is a fabless semiconductor technology development company. The company has a market cap of $68.71 million. The Firm develops opto-electronic and photonic fabrication processes and products. It currently has negative earnings. It operates through the design of semi-conductor products for military and industrial applications segment.
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