The stock of Imperial Equities Inc (CVE:IEI) gapped down by $0.24 today and has $3.97 target or 11.00% below today’s $4.46 share price. The 6 months technical chart setup indicates high risk for the $42.24M company. The gap down was reported on Nov, 11 by Barchart.com. If the $3.97 price target is reached, the company will be worth $4.65M 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 4,400 shares traded hands. Imperial Equities Inc (CVE:IEI) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.
Imperial Equities Inc. is a Canada firm engaged in the development and redevelopment of commercial and industrial properties primarily in Edmonton and throughout Alberta through its subsidiary, Imperial Equities Properties Ltd. The company has a market cap of $42.24 million. The Company’s divisions include Real Estate and Pharmaceuticals. It has a 12.22 P/E ratio. The Real Estate properties include Powell Building, Central Distribution Building, Independent Supply Building, Gescan Building, The Capital Business Park, Oliver Crossing, Norwesco and Ashworth Building.
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