The stock of GreenPower Motor Company Inc (CVE:GPV) gapped down by $0.01 today and has $0.64 target or 14.00% below today’s $0.74 share price. The 5 months technical chart setup indicates high risk for the $59.76M company. The gap down was reported on Nov, 7 by Barchart.com. If the $0.64 price target is reached, the company will be worth $8.37 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 28,200 shares traded hands or 8.94% up from the average. GreenPower Motor Company Inc (CVE:GPV) has risen 6.00% since October 8, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More important recent GreenPower Motor Company Inc (CVE:GPV) news were published by: Seekingalpha.com which released: “GreenPower Motor Co. – A Highly Unusual Transportation Services Technology Play” on October 15, 2015, also Seekingalpha.com published article titled: “GreenPower: Getting Definitive With Cash Flow Breakeven Expectations”, Marketwatch.com published: “GreenPower Announces Stock Option Grant” on October 31, 2016. More interesting news about GreenPower Motor Company Inc (CVE:GPV) was released by: Marketwired.com and their article: “GreenPower Announces Production of 2015 EV350 All Electric Bus” with publication date: March 24, 2015.
GreenPower Motor Company Inc., formerly Oakmont Minerals Corp., is engaged in the business of manufacturing and distributing green-tech charter, school and city buses. The company has a market cap of $59.76 million. The Firm develops electric powered vehicles for commercial markets. It currently has negative earnings. The Firm offers a range of electric powered buses deploying electric drive and battery technologies with a lightweight chassis and low floor or high floor body.
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