The stock of Vita Group Limited (ASX:VTG) gapped down by $0.09 today and has $3.76 target or 8.00% below today’s $4.09 share price. The 5 months technical chart setup indicates high risk for the $621.55 million company. The gap down was reported on Oct, 31 by Barchart.com. If the $3.76 price target is reached, the company will be worth $49.72M 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 13.16% or $0.62 on October 31, hitting $4.09. About 2.34M shares traded hands or 185.87% up from the average. Vita Group Limited (ASX:VTG) has risen 27.02% since April 4, 2016 and is uptrending. It has outperformed by 23.54% the S&P500.
More notable recent Vita Group Limited (ASX:VTG) news were published by: Fool.com.Au which released: “Why the Vita Group Limited share price is being hammered today” on October 31, 2016, also Fool.com.Au with their article: “Here’s why Vita Group Limited shares have gone gangbusters today” published on August 31, 2016, Fool.com.Au published: “Here’s why the Vita Group Limited share price is surging” on December 10, 2015. More interesting news about Vita Group Limited (ASX:VTG) were released by: Fool.com.Au and their article: “Why the Vita Group Limited share price is down 7.5% today” published on August 24, 2015 as well as Fool.com.Au‘s news article titled: “Why has the Vita Group share price suddenly taken off?” with publication date: February 26, 2016.
Vita Group Limited is a communications, computing and electronics provider. The company has a market cap of $621.55 million. The Firm is engaged in selling and marketing of technology and communication services and products through its retail store brands. It has a 16.28 P/E ratio. The Firm offers its services and products through its retail store brands, which include Telstra, Fone Zone and One Zero, and through its small to medium business , and government and enterprise channels in Australia.
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