The stock of Axios Mobile Assets Corp (CVE:AXA) gapped down by $0.02 today and has $0.32 target or 13.00% below today’s $0.37 share price. The 5 months technical chart setup indicates high risk for the $19.19M company. The gap down was reported on Nov, 7 by Barchart.com. If the $0.32 price target is reached, the company will be worth $2.49M 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 55,000 shares traded hands or 107.05% up from the average. Axios Mobile Assets Corp (CVE:AXA) has risen 6.00% since October 8, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More 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 the news titled: “Axios Mobile Assets Corp. Closes $5250000 Private Placement” on March 26, 2015. Pennenergy.com‘s news article titled: “Axios Mobile Assets Provides Operational Update for the Third Quarter” with publication date: October 05, 2016 was also an interesting one.
Axios Mobile Assets Corp. is a supply chain logistics company. The company has a market cap of $19.19 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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