The stock of biOasis Technologies Inc (CVE:BTI) gapped down by $0.05 today and has $1.21 target or 3.00% below today’s $1.25 share price. The 8 months technical chart setup indicates high risk for the $60.81 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $1.21 price target is reached, the company will be worth $1.82 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 58,500 shares traded hands or 67.32% up from the average. biOasis Technologies Inc (CVE:BTI) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More recent biOasis Technologies Inc (CVE:BTI) news were published by: Business.Financialpost.com which released: “Podcast: biOasis Technologies Inc CEO Rob Hutchison on how his company is …” on March 29, 2016. Also Reuters.com published the news titled: “BRIEF-biOasis enters into a license agreement with Vaccinex Inc.” on September 21, 2016. Marketwired.com‘s news article titled: “biOasis Enters Into a License Agreement With Vaccinex Inc.” with publication date: September 21, 2016 was also an interesting one.
biOasis Technologies Inc. is a development-stage biopharmaceutical company, which is focused on research, development and commercialization of technologies and products that are intended for the treatment of central nervous system diseases and diseases of the brain. The company has a market cap of $60.81 million. The Firm researches and develops products for diagnosis and treatment of neurological diseases and disorders. It currently has negative earnings. It is engaged in the development of its vectors Transcend and Transcendpep for the transport of therapeutic agents across the blood brain barrier (BBB).
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.