The stock of Epicore BioNetworks Inc. (CVE:EBN) gapped down by $0.01 today and has $0.45 target or 13.00% below today’s $0.52 share price. The 7 months technical chart setup indicates high risk for the $14.16 million company. The gap down was reported on Nov, 9 by Barchart.com. If the $0.45 price target is reached, the company will be worth $1.84M 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 21,500 shares traded hands or 118.63% up from the average. Epicore BioNetworks Inc. (CVE:EBN) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.
More notable recent Epicore BioNetworks Inc. (CVE:EBN) news were published by: Prnewswire.com which released: “Epicore BioNetworks Inc. Reports Results for Fiscal Year 2016” on October 07, 2016, also Prnewswire.com with their article: “Epicore BioNetworks Inc. Reports Second Quarter Results for Fiscal Year 2016” published on February 23, 2016, Globenewswire.com published: “Epicore BioNetworks Inc. Announces New Regional Manager” on November 20, 2014. More interesting news about Epicore BioNetworks Inc. (CVE:EBN) were released by: Seekingalpha.com and their article: “The Secular Demand In The Shrimp Industry Will Benefit Epicore BioNetworks (EPCBF)” published on August 21, 2015 as well as Theglobeandmail.com‘s news article titled: “Investor likes small-caps with dividends, little debt” with publication date: April 11, 2014.
Epicore BioNetworks Inc. develops, makes and markets specialty biotechnology, biochemical and nutrition products. The company has a market cap of $14.16 million. Epicore specialty biochemical products are mixtures of specialty organic, inorganic and biochemical ingredients that facilitate microbe and plant growth. It has a 9.14 P/E ratio. Some Epicore products (such as its EPIZYM-AGP COMPLETE) stimulate algae growth, an important property in shrimp and bivalve hatcheries that grow algae as animal food.
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