The stock of Supremex Inc (TSE:SXP) gapped down by $0.02 today and has $4.49 target or 12.00% below today’s $5.10 share price. The 6 months technical chart setup indicates high risk for the $145.77 million company. The gap down was reported on Nov, 4 by Barchart.com. If the $4.49 price target is reached, the company will be worth $17.49 million 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 146,038 shares traded hands or 454.92% up from the average. Supremex Inc (TSE:SXP) has risen 2.68% since March 31, 2016 and is uptrending. It has outperformed by 1.59% the S&P500.
More important recent Supremex Inc (TSE:SXP) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on September 26, 2011, also Theglobeandmail.com published article titled: “The Globe and Mail”, Marketwired.com published: “Supremex Inc.: Corporate Appointments” on January 22, 2014. More interesting news about Supremex Inc (TSE:SXP) was released by: Theglobeandmail.com and their article: “Not licked yet: Why it’s too soon to write off this envelope maker” with publication date: November 28, 2014.
Supremex Inc. is a manufacturer and marketer of a range of stock and custom envelopes, and a well-known provider of packaging and specialty products. The company has a market cap of $145.77 million. The Firm operates through the manufacturing and sale of envelopes and packaging and specialty products segment. It has a 10.69 P/E ratio. It offers products in over three categories: stock envelopes, custom envelopes and packaging and specialty products.
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