The stock of Symbility Solutions Inc (CVE:SY) gapped down by $0.01 today and has $0.39 target or 12.00% below today’s $0.44 share price. The 7 months technical chart setup indicates high risk for the $107.85M company. The gap down was reported on Nov, 9 by Barchart.com. If the $0.39 price target is reached, the company will be worth $12.94M 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 122,716 shares traded hands or 123.39% up from the average. Symbility Solutions Inc (CVE:SY) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.
More news for Symbility Solutions Inc (CVE:SY) were recently published by: Marketwired.com, which released: “Symbility Expands European Footprint” on October 07, 2014. Marketwired.com‘s article titled: “Symbility Health Signs Contract With Assumption Life” and published on July 21, 2014 is yet another important article.
Symbility Solutions Inc. is a Canada technology firm focused on providing claims processing solutions for various sectors of the insurance industry. The company has a market cap of $107.85 million. The Company’s divisions include Symbility Property , which provides claims processing and estimating software for property and casualty insurers; Symbility Health (group insurance software), which provides a software that enables insurers, third-party administrators, employee benefits brokers, and the pharmaceutical industry to re-define collaboration in the healthcare system, and Symbility Strategic Services (mobile and application software), which creates and develops technologies in the area of mobile applications, the Internet of Things, machine-to-machine and wearables to different industries. It currently has negative earnings.
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