The stock of iFabric Corp (TSE:IFA) gapped down by $0.01 today and has $2.00 target or 8.00% below today’s $2.17 share price. The 9 months technical chart setup indicates high risk for the $53.70 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $2.00 price target is reached, the company will be worth $4.30 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 14,890 shares traded hands or 616.55% up from the average. iFabric Corp (TSE:IFA) has declined 4.78% since April 22, 2016 and is downtrending. It has underperformed by 10.80% the S&P500.
More important recent iFabric Corp (TSE:IFA) news were published by: Reuters.com which released: “BRIEF-iFabric Corp announces extension of warrant expiry” on November 18, 2016, also Marketwired.com published article titled: “iFabric Corp Signs Four Year Supply Agreement With Eagle Creek, a Division of …”, Fortune.com published: “Why Indian IT Firms Will Go On a Buying Spree During a Trump Administration” on November 28, 2016. More interesting news about iFabric Corp (TSE:IFA) was released by: Wsj.com and their article: “As Gap Struggles, Its Analytical CEO Prizes Data Over Design” with publication date: November 27, 2016.
iFabric Corp. offers a range of products and services, through its wholly owned subsidiaries. The company has a market cap of $53.70 million. The Company’s operating divisions include Intimate Apparel, Intelligent Fabrics and Other. It currently has negative earnings. The Intimate Apparel segment makes and distributes foam shoulder pads and also creates and makes women’s intimate apparel and a range of specialty bras, including the backless and strapless underwire bra.
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.