Some Traders Are Very Bearish on Pacific Insight Electronics Corp After Today’s Gap Down

 Some Traders Are Very Bearish on Pacific Insight Electronics Corp After Today's Gap Down

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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