Gilat Satellite Networks Ltd. (GILT) Forms Wedge Down; Strong Momentum for Sellers

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: “Brexit impasse keeps German 10-year yield in negative territory – Nasdaq” on April 02, 2019, also Nasdaq.com with their article: “Sainsbury’s, Lloyds drive Britain’s main share index higher – Nasdaq” published on May 01, 2019, Cnbc.com published: “Kynetic CEO on newly formed Rue Gilt Groupe – CNBC” on June 05, 2018. More interesting news about Gilat Satellite Networks Ltd. (NASDAQ:GILT) were released by: Nasdaq.com and their article: “Mining shares lead London’s FTSE 100 lower; Bunzl drops on weak Q1 – Nasdaq” published on April 17, 2019 as well as Prnewswire.com‘s news article titled: “Gazprom Space Systems and Gilat Sign $18M Contract to Provide Broadband Connectivity Across Russia Over New Yamal 601 Ka Satellite – PR Newswire” with publication date: August 29, 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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