The stock of Legend Power Systems Inc (CVE:LPS) gapped down by $0.01 today and has $0.31 target or 14.00% below today’s $0.36 share price. The 7 months technical chart setup indicates high risk for the $27.14M company. The gap down was reported on Nov, 9 by Barchart.com. If the $0.31 price target is reached, the company will be worth $3.80M 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 48,000 shares traded hands. Legend Power Systems Inc (CVE:LPS) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.
More important recent Legend Power Systems Inc (CVE:LPS) news were published by: Marketwired.com which released: “Legend Power Q3 2016 Financial Results and Business Highlights” on August 24, 2016, also Marketwired.com published article titled: “Legend Power Schedules Q3 2016 Financial Results Release and Conference Call”, Marketwired.com published: “Fortune 500 Company Becomes Legend Power’s First Sale in New York City” on October 13, 2016. More interesting news about Legend Power Systems Inc (CVE:LPS) was released by: Marketwired.com and their article: “York Catholic District School Board Chooses Legend’s Solution for Reduced …” with publication date: June 28, 2016.
Legend Power Systems Inc. is a Canada electrical energy conservation company. The company has a market cap of $27.14 million. The Company, through its subsidiaries, markets a device designed to provide energy savings through voltage optimization to commercial and industrial customers. It currently has negative earnings. The Company’s Electrical Harmonizer eliminates inefficiencies by delivering the optimal level of voltage that a user needs.
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