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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