Some Traders Are Very Bearish on Nano One Materials Corp After Today’s Gap Down

 Some Traders Are Very Bearish on Nano One Materials Corp After Today's Gap Down

The stock of Nano One Materials Corp (CVE:NNO) gapped down by $0.005 today and has $0.43 target or 10.00% below today’s $0.48 share price. The 6 months technical chart setup indicates high risk for the $25.90 million company. The gap down was reported on Nov, 10 by If the $0.43 price target is reached, the company will be worth $2.59 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 29,500 shares traded hands. Nano One Materials Corp (CVE:NNO) has risen 6.00% since October 11, 2016 and is uptrending. It has outperformed by 0.35% the S&P500.

More recent Nano One Materials Corp (CVE:NNO) news were published by: which released: “Nano One Materials in first phase of lithium-ion battery pilot plant” on June 09, 2016. Also published the news titled: “Nano One Highlights High-Voltage Cobalt-Free Battery Material” on March 31, 2016.‘s news article titled: “Nano One CEO visits China and Japan on Business Development Mission” with publication date: November 07, 2016 was also an interesting one.

Nano One Materials Corp, formerly Dundarave Resources Inc, is a Canada firm engaged in developing processing technology for the production of high performance battery materials used in electric vehicles, energy storage and consumer electronics. The company has a market cap of $25.90 million. The Firm operates through developer of patent pending technology for the production of nanostructured materials segment. It currently has negative earnings. The Firm is developing a portfolio of technologies for applications in markets that include energy storage, specialty ceramics, pharmaceutical, semiconductors, aerospace, dental, catalysts and communications.

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