TRACKX HOLDINGS INC on Focus After Gap Down In Today’s Session


The stock of TRACKX HOLDINGS INC (CVE:TKX) gapped down by $0.005 today and has $0.36 target or 14.00% below today’s $0.42 share price. The 8 months technical chart setup indicates high risk for the $16.66M company. The gap down was reported on Sep, 14 by If the $0.36 price target is reached, the company will be worth $2.33M 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 6.67% or $0.03 on September 13, hitting $0.42. About 32,500 shares traded hands or 20.27% up from the average. TRACKX HOLDINGS INC (CVE:TKX) has risen 6.00% since August 15, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.

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