The stock of Novadaq Technologies Inc. (TSE:NDQ) gapped down by $0.92 today and has $11.85 target or 9.00% below today’s $13.02 share price. The 8 months technical chart setup indicates high risk for the $711.41M company. The gap down was reported on Nov, 3 by Barchart.com. If the $11.85 price target is reached, the company will be worth $64.03M 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 11,836 shares traded hands or 513.90% up from the average. Novadaq Technologies Inc. (TSE:NDQ) has risen 4.88% since March 30, 2016 and is uptrending. It has outperformed by 3.67% the S&P500.
More news for Novadaq Technologies Inc. (TSE:NDQ) were recently published by: Marketwatch.com, which released: “Virtual Stock Exchange” on March 05, 2012. Globenewswire.com‘s article titled: “NOVADAQ and Arthrex Announce Co-Marketing Agreement for PINPOINT Fluorescence …” and published on October 01, 2015 is yet another important article.
Novadaq Technologies Inc. is a medical device company. The company has a market cap of $711.41 million. The Firm primarily develops, makes and markets real-time fluorescence imaging products that are designed for use by surgeons in the operating room and other clinical settings where open and minimally invasive surgery or interventional procedures are performed. It currently has negative earnings. The Company’s segment is medical devices.
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