The stock of Pointer Telocation Ltd (NASDAQ:PNTR) gapped down by $0.02 today and has $5.32 target or 13.00% below today’s $6.11 share price. The 9 months technical chart setup indicates high risk for the $49.74 million company. The gap down was reported on Dec, 12 by Barchart.com. If the $5.32 price target is reached, the company will be worth $6.47 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%. The stock decreased 4.38% or $0.28 on December 11, hitting $6.11. About 12,062 shares traded hands or 192.70% up from the average. Pointer Telocation Ltd (NASDAQ:PNTR) has declined 22.54% since May 11, 2015 and is downtrending. It has underperformed by 18.12% the S&P500.
Out of 1 analysts covering Pointer Telocation Ltd (NASDAQ:PNTR), 1 rate it “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Pointer Telocation Ltd was the topic in 2 analyst reports since August 19, 2015 according to StockzIntelligence Inc.
According to Zacks Investment Research, “Pointer Telocation Ltd provides range of services to insurance companies and automobile owners, including road-side assistance, vehicle towing, stolen vehicle retrieval, fleet management and other value added services. Pointer Telocation provides services, for the most part, in Israel, through its subsidiary Shagrir and in Argentina and Mexico through its local subsidiaries.” Get a free copy of the Zacks research report on Pointer Telocation Ltd (PNTR).
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