The stock of Clearwater Seafoods Inc (TSE:CLR) gapped down by $0.05 today and has $12.63 target or 7.00% below today’s $13.58 share price. The 7 months technical chart setup indicates high risk for the $870.77M company. The gap down was reported on Oct, 31 by Barchart.com. If the $12.63 price target is reached, the company will be worth $60.95M 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 13,590 shares traded hands. Clearwater Seafoods Inc (TSE:CLR) has risen 7.51% since March 24, 2016 and is uptrending. It has outperformed by 4.03% the S&P500.
More notable recent Clearwater Seafoods Inc (TSE:CLR) news were published by: Seekingalpha.com which released: “Clearwater Seafoods: An Ever Growing Demand For Seafood” on October 17, 2015, also Marketwatch.com with their article: “Clearwater Seafoods Launches New Argentine Scallop Harvesting Vessel” published on May 21, 2015, Moodys.com published: “Moody’s revised Clearwater Seafood’s outlook to stable; affirms B2 CFR” on June 17, 2015. More interesting news about Clearwater Seafoods Inc (TSE:CLR) were released by: Business.Financialpost.com and their article: “Clearwater Seafoods rides the export wave of good fortune” published on February 19, 2016 as well as Seekingalpha.com‘s news article titled: “Clearwater Seafoods: 3 Different Insiders Have Purchased Shares During The …” with publication date: March 12, 2014.
Clearwater Seafoods Incorporated is a seafood company. The company has a market cap of $870.77 million. The Firm is engaged in the ownership and operation of assets and property in connection with the harvesting, processing, distribution and marketing of seafood. It has a 64.98 P/E ratio. The Company’s segment includes integrated activities for harvesting, processing and distribution of seafood products.
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