Can Pinetree Capital Ltd’s Tomorrow be Different? The Stock Just Gapped Down

 Can Pinetree Capital Ltd's Tomorrow be Different? The Stock Just Gapped Down

The stock of Pinetree Capital Ltd (TSE:PNP) gapped down by $0.18 today and has $2.51 target or 12.00% below today’s $2.85 share price. The 5 months technical chart setup indicates high risk for the $12.36M company. The gap down was reported on Nov, 8 by Barchart.com. If the $2.51 price target is reached, the company will be worth $1.48M 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 20,230 shares traded hands or 442.65% up from the average. Pinetree Capital Ltd (TSE:PNP) has risen 11.67% since April 1, 2016 and is uptrending. It has outperformed by 9.71% the S&P500.

More notable recent Pinetree Capital Ltd (TSE:PNP) news were published by: Marketwatch.com which released: “Pinetree Capital Ltd. Provides Update of Its Beneficial Ownership of Common …” on August 26, 2016, also Marketwatch.com with their article: “Pinetree Capital Ltd. Announces Completion of Share Consolidation” published on July 20, 2016, Midasletter.com published: “Pinetree Capital Ltd. CEO Sheldon Inwentash is Out in Default-induced Board …” on January 26, 2015. More interesting news about Pinetree Capital Ltd (TSE:PNP) were released by: Marketwired.com and their article: “Pinetree Capital Ltd. Announces Effective Date of Share Consolidation and …” published on July 14, 2016 as well as Gurufocus.com‘s news article titled: “Pinetree Capital Ltd. Announces Election of Directors” with publication date: September 30, 2016.

Pinetree Capital Ltd. is an investment and merchant banking firm focused on the small-cap market, with early-stage investments in resource, biotechnology and technology companies. The company has a market cap of $12.36 million. The Company’s investment portfolio includes equities, warrants, and promissory notes and convertible debentures. It currently has negative earnings. The Company’s geographical segment is Canada.

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