The stock of biOasis Technologies Inc (CVE:BTI) gapped down by $0.05 today and has $1.11 target or 14.00% below today’s $1.29 share price. The 7 months technical chart setup indicates high risk for the $56.79M company. The gap down was reported on Nov, 9 by Barchart.com. If the $1.11 price target is reached, the company will be worth $7.95 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 18,850 shares traded hands. biOasis Technologies Inc (CVE:BTI) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.
More important recent biOasis Technologies Inc (CVE:BTI) news were published by: Marketwired.com which released: “biOasis Technologies Inc. to Present at BIO International Conference in San …” on May 17, 2016, also Reuters.com published article titled: “BRIEF-biOasis enters into a license agreement with Vaccinex Inc.”, Business.Financialpost.com published: “Podcast: biOasis Technologies Inc CEO Rob Hutchison on how his company is …” on March 29, 2016. More interesting news about biOasis Technologies Inc (CVE:BTI) was released by: Marketwired.com and their article: “biOasis Enters Into a License Agreement With Vaccinex Inc.” with publication date: September 21, 2016.
biOasis Technologies Inc. is a development-stage biopharmaceutical company, which is focused on research, development and commercialization of technologies and products that are intended for the treatment of central nervous system diseases and diseases of the brain. The company has a market cap of $56.79 million. The Firm researches and develops products for diagnosis and treatment of neurological diseases and disorders. It currently has negative earnings. It is engaged in the development of its vectors Transcend and Transcendpep for the transport of therapeutic agents across the blood brain barrier (BBB).
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