The stock of Aristocrat Leisure Limited (ASX:ALL) gapped down by $0.36 today and has $13.59 target or 5.00% below today’s $14.30 share price. The 8 months technical chart setup indicates high risk for the $9.11B company. The gap down was reported on Nov, 9 by Barchart.com. If the $13.59 price target is reached, the company will be worth $455.50 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%. The stock decreased 5.86% or $0.89 on November 9, hitting $14.3. About 7.27M shares traded hands or 363.06% up from the average. Aristocrat Leisure Limited (ASX:ALL) has risen 45.18% since April 13, 2016 and is uptrending. It has outperformed by 40.40% the S&P500.
More notable recent Aristocrat Leisure Limited (ASX:ALL) news were published by: Fool.com.Au which released: “Aristocrat Leisure Limited share price soars: Here’s why” on May 12, 2016, also Fool.com.Au with their article: “Why Aristocrat Leisure Limited shares have gone nuts this year” published on September 22, 2016, Fool.com.Au published: “Will Aristocrat Leisure Limited continue to smash the market?” on October 18, 2016. More interesting news about Aristocrat Leisure Limited (ASX:ALL) were released by: Fool.com.Au and their article: “Aristocrat Leisure Limited v Ainsworth Game Technology Limited: Which is the …” published on August 03, 2015 as well as Reviewjournal.com‘s news article titled: “Aristocrat No. 3 in slot industry, but CEO striving to move up” with publication date: June 14, 2015.
Aristocrat Leisure Limited is an Australia well-known provider of gaming solutions. The company has a market cap of $9.11 billion. The Company’s divisions include Australia and New Zealand, Americas, International Class III and Digital. It has a 37.98 P/E ratio. It is engaged in designing, development and distribution of gaming content, platforms and systems.
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