Does DATA COMMUNICATIONS MGMT CORP Have Any Gas After Today’s Gap Down?

 Does DATA COMMUNICATIONS MGMT CORP Have Any Gas After Today's Gap Down?

The stock of DATA COMMUNICATIONS MGMT CORP (TSE:DCM) gapped down by $1.46 today and has $1.94 target or 14.00% below today’s $2.25 share price. The 8 months technical chart setup indicates high risk for the $52.21M company. The gap down was reported on Nov, 3 by Barchart.com. If the $1.94 price target is reached, the company will be worth $7.31M 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 610,547 shares traded hands or 736.86% up from the average. DATA COMMUNICATIONS MGMT CORP (TSE:DCM) has risen 45.33% since March 30, 2016 and is uptrending. It has outperformed by 44.12% the S&P500.

More news for DATA COMMUNICATIONS MGMT CORP (TSE:DCM) were recently published by: Stockhouse.com, which released: “DATA Communications Management Corp. Announces Appointment of Gregory J …” on November 03, 2016. Stockhouse.com‘s article titled: “DATA Communications Management Corp. Announces Third Quarter Financial Results …” and published on November 03, 2016 is yet another important article.

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