POET Technologies Inc Gaps Down Today, Is Now One of The Worst Performers

 POET Technologies Inc Gaps Down Today, Is Now One of The Worst Performers

The stock of POET Technologies Inc (CVE:PTK) gapped down by $0.01 today and has $0.29 target or 5.00% below today’s $0.31 share price. The 7 months technical chart setup indicates high risk for the $82.09M company. The gap down was reported on Nov, 29 by Barchart.com. If the $0.29 price target is reached, the company will be worth $4.10M 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 409,698 shares traded hands. POET Technologies Inc (CVE:PTK) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.

More notable recent POET Technologies Inc (CVE:PTK) news were published by: Finance.Yahoo.com which released: “POET Technologies Reports Third Quarter Financial Results” on November 28, 2016, also Globenewswire.com with their article: “POET Technologies Reports Another Significant Step Toward Its Goal of …” published on August 09, 2016, Streetinsider.com published: “Form FX POET TECHNOLOGIES INC. Filed by: POET TECHNOLOGIES INC.” on September 01, 2016. More interesting news about POET Technologies Inc (CVE:PTK) were released by: Globenewswire.com and their article: “POET Technologies Appoints Thomas R. Mika as Chief Financial Officer” published on October 17, 2016 as well as Seekingalpha.com‘s news article titled: “POET Technologies Has No Poetry” with publication date: September 06, 2015.

POET Technologies Inc. is a fabless semiconductor technology development company. The company has a market cap of $82.09 million. The Firm develops opto-electronic and photonic fabrication processes and products. It currently has negative earnings. It operates through the design of semi-conductor products for military and industrial applications segment.

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