The stock of Bevo Agro Inc (CVE:BVO) gapped down by $0.05 today and has $1.18 target or 7.00% below today’s $1.27 share price. The 6 months technical chart setup indicates high risk for the $32.22M company. The gap down was reported on Nov, 22 by Barchart.com. If the $1.18 price target is reached, the company will be worth $2.26 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 12,000 shares traded hands. Bevo Agro Inc (CVE:BVO) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
Bevo Agro Inc. is engaged in the propagation of plants in North America, providing greenhouses, field farms, nurseries, and wholesalers across the continent with plants. The company has a market cap of $32.22 million. The Firm operates through the segment of propagation and production of greenhouse products. It has a 11.5 P/E ratio. It operates approximately 45 acres of propagation greenhouse facilities on approximately 100 acres of land in Milner, British Colombia and approximately 20 acres of land in Pitt Meadows, British Colombia.
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.