What’s Next for Gilat Satellite Networks Ltd. (GILT) After Forming Wedge Down Chart Pattern?

Gilat Satellite Networks Ltd. (NASDAQ:GILT) Logo

The stock of Gilat Satellite Networks Ltd. (GILT) formed a down wedge with $8.53 target or 6.00 % below today’s $9.07 share price. The 7 months wedge indicates high risk for the $500.78M company. If the $8.53 price target is reached, the company will be worth $30.05M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 1.63% or $0.15 during the last trading session, reaching $9.07. About 1,078 shares traded. Gilat Satellite Networks Ltd. (NASDAQ:GILT) has risen 4.19% since May 8, 2018 and is uptrending. It has underperformed by 0.18% the S&P500.

More notable recent Gilat Satellite Networks Ltd. (NASDAQ:GILT) news were published by: Nasdaq.com which released: “Ex-div trading hits FTSE 100 while Saga weighs down midcaps – Nasdaq” on April 04, 2019, also Ft.com with their article: “US stocks lifted by optimism over trade tariffs – Financial Times” published on January 17, 2019, Prnewswire.com published: “Gilat Launches 5G-Ready Satellite Backhaul Solution – PRNewswire” on January 24, 2019. More interesting news about Gilat Satellite Networks Ltd. (NASDAQ:GILT) were released by: Reuters.com and their article: “Investors sell shares, shelter in bonds before make-or-break trade talks – Reuters” published on May 08, 2019 as well as Investorplace.com‘s news article titled: “17 Small-Cap Stocks That Could Double – Investorplace.com” with publication date: October 02, 2018.

Gilat Satellite Networks Ltd., together with its subsidiaries, provides broadband satellite communication network solutions and services worldwide. The company has market cap of $500.78 million. The firm designs, makes, and provides network management and equipment for Satcom, as well as professional services to satellite and Telcos. It has a 27.47 P/E ratio. The Company’s equipment consists of very small aperture terminals, solid-state power amplifiers, block up converters, low-profile antennas, and on-the-move/on-the-pause terminals.

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