The stock of Versapay Corp. (CVE:VPY) gapped down by $0.02 today and has $1.04 target or 13.00% below today’s $1.20 share price. The 8 months technical chart setup indicates high risk for the $36.56 million company. The gap down was reported on Nov, 8 by Barchart.com. If the $1.04 price target is reached, the company will be worth $4.75 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 26,100 shares traded hands. Versapay Corp. (CVE:VPY) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More notable recent Versapay Corp. (CVE:VPY) news were published by: Marketwired.com which released: “VersaPay Corporation Announces $4 Million Bought-Deal Financing” on April 18, 2016, also Businesswire.com with their article: “Heartland, VersaPay Help Merchants Move to Electronic Invoicing” published on August 13, 2015, Investingnews.com published: “VersaPay CFO David Chan Quits” on February 26, 2016. More interesting news about Versapay Corp. (CVE:VPY) were released by: Investorideas.com and their article: “#Technology, #Mining #Stocks and #FoodSciences/ #Hemp Company …” published on July 15, 2016 as well as Businesswire.com‘s news article titled: “Heartland Now Offering US Customers Innovative, Cloud-Based Paperless …” with publication date: April 28, 2014.
VersaPay Corporation is a Canada-based financial technology firm that provides a cloud accounts receivable automation software and integrated payment solutions for businesses. The company has a market cap of $36.56 million. The Firm operates through two divisions: VersaPay Solutions and Point of Sale Merchant Services . It currently has negative earnings. Through its VersaPay Solutions segment, the Company focuses on electronic invoice presentment with its ARC software (ARC) and develops value added payment technologies, such as its PayPort and VersaPay Gateway.
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