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 Barchart.com. 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: Investorintel.com which released: “Nano One Materials in first phase of lithium-ion battery pilot plant” on June 09, 2016. Also Globenewswire.com published the news titled: “Nano One Highlights High-Voltage Cobalt-Free Battery Material” on March 31, 2016. Globenewswire.com‘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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