Traders Are Bearish Blackline Safety Corp After Today’s Gap Down

 Traders Are Bearish Blackline Safety Corp After Today's Gap Down

The stock of Blackline Safety Corp (CVE:BLN) gapped down by $0.05 today and has $2.80 target or 5.00% below today’s $2.95 share price. The 8 months technical chart setup indicates high risk for the $82.93M company. The gap down was reported on Nov, 29 by If the $2.80 price target is reached, the company will be worth $4.15M 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 5,000 shares traded hands. Blackline Safety Corp (CVE:BLN) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.

More recent Blackline Safety Corp (CVE:BLN) news were published by: which released: “Blackline Safety Announces Stock Option Grant” on November 21, 2016. Also published the news titled: “DAK Investments Corp. Acquires Shares of Blackline Safety Corp.” on June 24, 2016.‘s news article titled: “Blackline Safety Ranks No. 228 on the 2016 Profit 500” with publication date: September 15, 2016 was also an interesting one.

Blackline Safety Corp., formerly Blackline GPS Corp., is a Canada wireless location company, which develops, makes, and markets services and products for worker safety monitoring. The company has a market cap of $82.93 million. The Company’s Loner solutions empower organizations in various industries and geographic locations with real-time safety incident awareness. It currently has negative earnings. The Company’s portfolio of solutions address every lone worker scenario, including indoors, outdoors, in between buildings, hazardous sites, while driving and in remote locations.

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