The stock of Calian Group Ltd (TSE:CGY) gapped down by $0.24 today and has $20.64 target or 12.00% below today’s $23.45 share price. The 5 months technical chart setup indicates high risk for the $171.24 million company. The gap down was reported on Nov, 9 by Barchart.com. If the $20.64 price target is reached, the company will be worth $20.55M 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 10,681 shares traded hands or 77.66% up from the average. Calian Group Ltd (TSE:CGY) has risen 27.04% since April 5, 2016 and is uptrending. It has outperformed by 22.26% the S&P500.
More important recent Calian Group Ltd (TSE:CGY) news were published by: Marketwired.com which released: “Calian Completes Name Change to Calian Group Ltd. – Stock Ticker now CGY” on April 05, 2016, also Marketwired.com published article titled: “Calian Declares a Quarterly Dividend of $0.28 Per Share”, Marketwired.com published: “Calian Re-Wins Two Multi-Year Contracts for Long-Term DND Customers With A …” on September 06, 2016. More interesting news about Calian Group Ltd (TSE:CGY) was released by: Marketwired.com and their article: “Calian Wins $3 Million DND Contract For Information Technology Service …” with publication date: June 13, 2016.
Calian Group Ltd., formerly Calian Technologies Ltd., is a Canada company, which is engaged in providing business and technology services. The company has a market cap of $171.24 million. The Firm offers business and technology services to the industries and government in the health, training, engineering and information technology services. It has a 13.25 P/E ratio. The Firm operates through two divisions: Systems Engineering Division (SED), and the Business and Technology Services Division (BTS).
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