Could Global Daily Fantasy Sports Inc Crash Even More? The Stock Just Had a Gap Down

 Could Global Daily Fantasy Sports Inc Crash Even More? The Stock Just Had a Gap Down

The stock of Global Daily Fantasy Sports Inc (CVE:DFS) gapped down by $0.03 today and has $0.68 target or 13.00% below today’s $0.78 share price. The 5 months technical chart setup indicates high risk for the $35.30M company. The gap down was reported on Oct, 17 by Barchart.com. If the $0.68 price target is reached, the company will be worth $4.59M 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 76,954 shares traded hands or 200.30% up from the average. Global Daily Fantasy Sports Inc (CVE:DFS) has risen 6.00% since September 17, 2016 and is uptrending. It has outperformed by 0.39% the S&P500.

More notable recent Global Daily Fantasy Sports Inc (CVE:DFS) news were published by: Forbes.com which released: “Business-To-Business Daily Fantasy Sports Company Signs Major Distribution Deal” on August 04, 2016, also Marketwatch.com with their article: “Global Daily Fantasy Sports Inc. – Closing of $6 million private placement” published on September 17, 2016, Finance.Yahoo.com published: “Global Daily Fantasy Sports Announces DFS Executive as COO” on September 06, 2016. More interesting news about Global Daily Fantasy Sports Inc (CVE:DFS) were released by: Reuters.com and their article: “BRIEF-Global Daily Fantasy Sports announces Justin Shulman as COO” published on March 26, 2013 as well as Prnewswire.com‘s news article titled: “Daily Fantasy Sports Goes Global, Fantasy Network Signs 50 Brands in …” with publication date: February 23, 2016.

Global Daily Fantasy Sports Inc, formerly Lariat Energy Ltd, is a Canada company, which focuses on the business of the daily fantasy sports industry. The company has a market cap of $35.30 million. The Firm focuses DFS business. It currently has negative earnings. The Firm focuses on developing its DFS product for the international regulated markets.

DFS Company Profile

Discover Financial Services (DFS), incorporated on July 25, 1960, is a direct banking and payment services company. The Firm is a bank holding company, as well as a financial holding company. The Firm operates through two divisions: Direct Banking and Payment Services. It provides direct banking services and products and payment services through its subsidiaries. It offers its clients credit card loans, private student loans, personal loans, home equity loans and deposit products.

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