Does Burcon NutraScience Corp Have Any Gas After Today’s Gap Down?

 Does Burcon NutraScience Corp Have Any Gas After Today's Gap Down?

The stock of Burcon NutraScience Corp (TSE:BU) gapped down by $0.03 today and has $2.40 target or 5.00% below today’s $2.53 share price. The 6 months technical chart setup indicates high risk for the $89.98 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $2.40 price target is reached, the company will be worth $4.50 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 21,900 shares traded hands or 6.18% up from the average. Burcon NutraScience Corp (TSE:BU) has declined 14.24% since April 22, 2016 and is downtrending. It has underperformed by 20.25% the S&P500.

More recent Burcon NutraScience Corp (TSE:BU) news were published by: Quotes.Wsj.com which released: “News Burcon Nutrascience Corp.BUR” on February 15, 2011. Also Streetinsider.com published the news titled: “Burcon Nutrascience (BUR) Says Archer Daniels Plans to Achieve Full CLARISOY …” on September 06, 2016. Globenewswire.com‘s news article titled: “Burcon Updates on CLARISOYâ„¢ Commercialization Progress” with publication date: December 17, 2015 was also an interesting one.

Burcon NutraScience Corp is a Canada company, which is engaged in development of functional and renewable plant proteins. The company has a market cap of $89.98 million. The Firm has developed a portfolio of composition, application and process patents originating from a core protein extraction and purification technology. It currently has negative earnings. The Firm and its subsidiary have developed CLARISOY, a soy protein; and are developing Peazazz, a pea protein, and Puratein, Supertein and Nutratein, approximately three canola protein isolates.

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