The stock of Pivot Technology Solutions Inc (CVE:PTG) gapped down by $0.01 today and has $0.38 target or 6.00% below today’s $0.40 share price. The 6 months technical chart setup indicates high risk for the $66.59 million company. The gap down was reported on Nov, 29 by Barchart.com. If the $0.38 price target is reached, the company will be worth $4.00 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 1.59 million shares traded hands or 737.24% up from the average. Pivot Technology Solutions Inc (CVE:PTG) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
More news for Pivot Technology Solutions Inc (CVE:PTG) were recently published by: Finance.Yahoo.com, which released: “Pivot Technology Solutions Reports Second Quarter 2016 Results” on August 26, 2016. Reuters.com‘s article titled: “BRIEF-Pivot Technology Solutions acquires Teramach” and published on October 03, 2016 is yet another important article.
Pivot Technology Solutions, Inc. focuses on the strategy to acquire and integrate technology solution providers, primarily in North America. The company has a market cap of $66.59 million. The businesses acquired by the Company designs, sells and supports integrated computer hardware, software and networking products for business database, network and network security systems. It has a 46.03 P/E ratio. The Firm primarily serves clients throughout the United States.
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