The stock of Petroshale Inc (CVE:PSH) gapped down by $0.31 today and has $0.84 target or 11.00% below today’s $0.94 share price. The 7 months technical chart setup indicates high risk for the $25.86 million company. The gap down was reported on Nov, 14 by Barchart.com. If the $0.84 price target is reached, the company will be worth $2.84 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 22,325 shares traded hands or 13853.13% up from the average. Petroshale Inc (CVE:PSH) has risen 6.00% since October 15, 2016 and is uptrending. It has outperformed by 1.02% the S&P500.
More notable recent Petroshale Inc (CVE:PSH) news were published by: Seekingalpha.com which released: “Petroshale: Junior Oil Play With Big Potential” on September 05, 2014, also Marketwired.com with their article: “Todd Slawson Announces Acquisition of Equity Interest in Petroshale Inc.” published on December 22, 2014, Marketwired.com published: “PetroShale Announces Financial and Operating Results for Second Quarter 2016” on August 23, 2016. More interesting news about Petroshale Inc (CVE:PSH) were released by: Marketwired.com and their article: “PetroShale Announces Key Executive and Board Appointments, Provides …” published on November 25, 2013 as well as Marketwired.com‘s news article titled: “PetroShale Announces Affirmation of Senior Loan Capacity” with publication date: June 21, 2016.
PetroShale Inc. is a Canada oil company. The company has a market cap of $25.86 million. The Firm is engaged in the acquisition, development and consolidation of interests in the North Dakota Bakken/Three Forks. It currently has negative earnings. The Firm operates in the production of petroleum and natural gas and the exploration for and development of oil and natural gas properties segment.
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