Is Selling Stock Like International Barrier Technology Inc. After Such Gap Down a Winning Strategy?

 Is Selling Stock Like International Barrier Technology Inc. After Such Gap Down a Winning Strategy?

The stock of International Barrier Technology Inc. (CVE:IBH) gapped down by $0.02 today and has $0.28 target or 14.00% below today’s $0.32 share price. The 6 months technical chart setup indicates high risk for the $16.57M company. The gap down was reported on Nov, 8 by Barchart.com. If the $0.28 price target is reached, the company will be worth $2.32M 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 101,000 shares traded hands or 766.06% up from the average. International Barrier Technology Inc. (CVE:IBH) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.

More notable recent International Barrier Technology Inc. (CVE:IBH) news were published by: Businesswire.com which released: “LP to Add FlameBlock® Fire-Rated OSB Sheathing Line at Clarke County, Alabama …” on August 04, 2015, also Businesswire.com with their article: “LP Celebrates Ground Breaking of FlameBlock® Fire-Rated OSB Sheathing Line at …” published on January 06, 2016, Prnewswire.com published: “NuCerity Scientific Advisor Presents Findings on Breathable Barrier Technology …” on May 10, 2016. More interesting news about International Barrier Technology Inc. (CVE:IBH) were released by: Insurancejournal.com and their article: “China Passes Controversial Cyber Security Law Despite Foreign Business Concerns” published on November 07, 2016 as well as Marketwired.com‘s news article titled: “biOasis Technologies Inc. to Present at BIO International Conference in San …” with publication date: May 17, 2016.

International Barrier Technology Inc. makes and sells fire-rated building materials in the United States. The company has a market cap of $16.57 million. The Company’s product, Pyrotite, a fire-barrier material consists of the formulation reinforced with chopped fiberglass strands and applied directly to structural sheathing (oriented strand board (OSB) or plywood) designed to prevent ignition and inhibit the spread of flames. It has a 39.8 P/E ratio. The product is marketed through supply agreements as LP FlameBlock Fire-Rated OSB Sheathing into Residential Roof Deck, Wall Assembly, Wildland Urban Interface Zones and Structurally Insulated Panel (SIP) market, and Blazeguard FR Deck Panel into the commercial modular market.

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