The stock of Poydras Gaming Finance Corp (CVE:PYD) gapped down by $0.02 today and has $0.62 target or 9.00% below today’s $0.68 share price. The 7 months technical chart setup indicates high risk for the $23.35M company. The gap down was reported on Nov, 22 by Barchart.com. If the $0.62 price target is reached, the company will be worth $2.10 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 29,000 shares traded hands or 75.78% up from the average. Poydras Gaming Finance Corp (CVE:PYD) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
More important recent Poydras Gaming Finance Corp (CVE:PYD) news were published by: Reuters.com which released: “BRIEF-Poydras Gaming Finance Corp posts Q3 net loss of $2.9 mln” on November 21, 2016, also Prnewswire.com published article titled: “Poydras Gaming Finance Corp. Commences Trading on the OTCQX Market in the …”, Globenewswire.com published: “Poydras Gaming Finance Poised to Capitalize on Growing Tribal Gaming Industry” on February 17, 2015. More interesting news about Poydras Gaming Finance Corp (CVE:PYD) was released by: Prnewswire.com and their article: “OTC Markets Group Welcomes Poydras Gaming Finance to OTCQX” with publication date: October 12, 2016.
Poydras Gaming Finance Corp is a Canada firm engaged in slot route operations. The company has a market cap of $23.35 million. The Firm is engaged in providing capital and gaming equipment to casino operators and vendors in the United States. It currently has negative earnings. It is focused on leasing and distributing slot machines, electronic table games, and casino and bingo equipment and supplies.
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