DragonWave, Inc. Has Another Very Weak Trading Session Recording a Gap Down

 DragonWave, Inc. Has Another Very Weak Trading Session Recording a Gap Down

The stock of DragonWave, Inc. (TSE:DWI) gapped down by $0.05 today and has $3.69 target or 12.00% below today’s $4.19 share price. The 9 months technical chart setup indicates high risk for the $19.66 million company. The gap down was reported on Nov, 16 by Barchart.com. If the $3.69 price target is reached, the company will be worth $2.36 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 33,192 shares traded hands. DragonWave, Inc. (TSE:DWI) has risen 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.

DragonWave Inc. is a provider of packet microwave solutions for Internet protocol (IP) networks. The company has a market cap of $19.66 million. The Firm operates through broadband wireless backhaul equipment segment. It currently has negative earnings. The principal application of DragonWave’s products is mobile network backhaul.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment