The stock of Axios Mobile Assets Corp (CVE:AXA) gapped down by $0.025 today and has $0.39 target or 14.00% below today’s $0.45 share price. The 6 months technical chart setup indicates high risk for the $20.47 million company. The gap down was reported on Nov, 4 by Barchart.com. If the $0.39 price target is reached, the company will be worth $2.87M 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 26,000 shares traded hands. Axios Mobile Assets Corp (CVE:AXA) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.
More important recent Axios Mobile Assets Corp (CVE:AXA) news were published by: Marketwatch.com which released: “Relay Ventures Funds Acquire Securities of Axios Mobile Assets Corp.” on December 21, 2015, also Marketwired.com published article titled: “Axios Mobile Assets Corp. Closes $5250000 Private Placement”, Stockhouse.com published: “Axios Mobile Assets Corp. to Present at The MicroCap Conference on October 24 …” on October 11, 2016. More interesting news about Axios Mobile Assets Corp (CVE:AXA) was released by: Marketwired.com and their article: “Axios Named One of Canada’s 20 Most Innovative Public Technology Companies by …” with publication date: November 24, 2015.
Axios Mobile Assets Corp. is a supply chain logistics company. The company has a market cap of $20.47 million. The Firm is a supplier of pooled pallets, primarily to the perishable food industry. It currently has negative earnings. The Company’s divisions include Pallet Rental and Freight Services.
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