The stock of Pacific Insight Electronics Corp (TSE:PIH) gapped down by $0.02 today and has $6.95 target or 11.00% below today’s $7.81 share price. The 5 months technical chart setup indicates high risk for the $52.93 million company. The gap down was reported on Nov, 8 by Barchart.com. If the $6.95 price target is reached, the company will be worth $5.82 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 13,725 shares traded hands. Pacific Insight Electronics Corp (TSE:PIH) has declined 11.16% since April 1, 2016 and is downtrending. It has underperformed by 13.12% the S&P500.
More important recent Pacific Insight Electronics Corp (TSE:PIH) news were published by: Marketwatch.com which released: “Pacific Insight Electronics Announces Closing of First Tranche of Private …” on November 06, 2015, also Seekingalpha.com published article titled: “Pacific Insight Electronics: Getting Ready To Take The Next Step”, Prnewswire.com published: “Pacific Insight Electronics Maintains Revenue Growth Trajectory” on February 12, 2016. More interesting news about Pacific Insight Electronics Corp (TSE:PIH) was released by: Prnewswire.com and their article: “Pacific Insight Reports Solid Revenue and Earnings for Fiscal 2016” with publication date: September 13, 2016.
Pacific Insight Electronics Corp. is an electronic solutions well-known provider to the automotive, commercial and specialty vehicle markets. The company has a market cap of $52.93 million. The Firm provides planning, design and manufacture of electronic solutions for the transportation industry. It has a 5.5 P/E ratio. It sells its services and products to original equipment manufacturers and distributors in the United States, Canada and various other countries.
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