The stock of Theralase Technologies Inc. (CVE:TLT) gapped down by $0.095 today and has $0.22 target or 12.00% below today’s $0.26 share price. The 5 months technical chart setup indicates high risk for the $28.01M company. The gap down was reported on Nov, 8 by Barchart.com. If the $0.22 price target is reached, the company will be worth $3.36 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 2.09 million shares traded hands or 356.63% up from the average. Theralase Technologies Inc. (CVE:TLT) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More news for Theralase Technologies Inc. (CVE:TLT) were recently published by: Midasletter.com, which released: “Theralase Technologies Inc: A Cure for Cancer?” on February 24, 2014. Business.Financialpost.com‘s article titled: “Podcast: Theralase Technologies CEO on using light for pain and cancer treatment” and published on June 15, 2016 is yet another important article.
Theralase Technologies Inc. is a biotech firm focused on the commercialization of medical devices to eliminate pain and the development of Photo Dynamic Compounds to destroy cancer. The company has a market cap of $28.01 million. The Firm operates through two divisions: Therapeutic Laser Technology (TLT) division and Photo Dynamic Therapy (PDT) division. It currently has negative earnings. The TLT division designs, develops, makes and markets super-pulsed laser technology indicated for the healing of chronic knee pain.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.