What Next for EEStor Corporation After Today’s Gap Down?

 What Next for EEStor Corporation After Today's Gap Down?

The stock of EEStor Corporation (CVE:ESU) gapped down by $0.02 today and has $0.49 target or 10.00% below today’s $0.54 share price. The 8 months technical chart setup indicates high risk for the $54.49M company. The gap down was reported on Nov, 9 by Barchart.com. If the $0.49 price target is reached, the company will be worth $5.45 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 62,068 shares traded hands. EEStor Corporation (CVE:ESU) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.

More notable recent EEStor Corporation (CVE:ESU) news were published by: Marketwired.com which released: “EEStor Corporation Completes Private Placement” on June 16, 2016, also Marketwired.com with their article: “EEStor Corporation Reports 2016 Third Quarter Results” published on August 30, 2016, Marketwatch.com published: “EEStor Corp.” on April 22, 2011. More interesting news about EEStor Corporation (CVE:ESU) were released by: Marketwired.com and their article: “EEStor Corporation Completes Balance of Private Placement” published on July 11, 2016 as well as Marketwired.com‘s news article titled: “EEStor Corporation Reports 2016 First Quarter Results” with publication date: March 01, 2016.

EEStor Corporation, formerly ZENN Motor Company Inc., is a well-known provider of electrical energy storage and related capacitor technologies. The company has a market cap of $54.49 million. The Firm holds equity and voting interest, and certain technology rights to a solid-state capacitor and related energy storage technologies under development by the EEStor, Inc. . It currently has negative earnings. The Firm is focused on licensing and partnership opportunities across a spectrum of industries and applications.

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