Could AirBoss of America Corp Crash Even More? The Stock Just Had a Gap Down

 Could AirBoss of America Corp Crash Even More? The Stock Just Had a Gap Down

The stock of AirBoss of America Corp (TSE:BOS) gapped down by $0.97 today and has $9.25 target or 12.00% below today’s $10.51 share price. The 7 months technical chart setup indicates high risk for the $246.36M company. The gap down was reported on Nov, 15 by Barchart.com. If the $9.25 price target is reached, the company will be worth $29.56 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 114,776 shares traded hands or 706.97% up from the average. AirBoss of America Corp (TSE:BOS) has declined 12.22% since April 11, 2016 and is downtrending. It has underperformed by 16.14% the S&P500.

AirBoss of America Corp (TSE:BOS) Ratings Coverage

Out of 2 analysts covering Airboss Of America Corp. (TSE:BOS), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Airboss Of America Corp. has been the topic of 5 analyst reports since August 13, 2015 according to StockzIntelligence Inc. The rating was maintained by TD Securities with “Buy” on Thursday, August 13.

More news for AirBoss of America Corp (TSE:BOS) were recently published by: Marketwired.com, which released: “AirBoss of America Corp. Appoints New Chief Financial Officer” on June 17, 2016. Seekingalpha.com‘s article titled: “AirBoss Of America: A Good Company, But Not A Good Price (ABSSF)” and published on June 12, 2015 is yet another important article.

AirBoss of America Corp. is engaged in the manufacture of rubber products for resource, military, automotive and industrial markets. The company has a market cap of $246.36 million. It operates in three divisions: Rubber Compounding, Engineered Products and Automotive. It has a 10.7 P/E ratio. The Company, through its AirBoss Rubber Compounding division, is engaged in custom rubber compounding, supplying mixed rubber for use in mining, transportation, industrial rubber products, military, automotive, conveyor belting, and other products, mainly in North America.

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