The stock of Aberdeen Japan Investment Trust PLC (LON:AJIT) gapped down by GBX 4 today and has GBX 459.00 target or 10.00% below today’s GBX 510.00 share price. The 8 months technical chart setup indicates high risk for the GBX 79.37M company. The gap down was reported on Nov, 10 by Barchart.com. If the GBX 459.00 price target is reached, the company will be worth GBX 7.94 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 increased 0.79% or GBX 4 on November 10, hitting GBX 510. About 15,985 shares traded hands or 125.59% up from the average. Aberdeen Japan Investment Trust PLC (LON:AJIT) has declined 1.39% since April 13, 2016 and is downtrending. It has underperformed by 7.04% the S&P500.
Aberdeen Japan Investment Trust PLC, formerly Aberdeen All Asia Investment Trust PLC, is an investment company. The company has a market cap of 79.37 million GBP. The Firm aims to achieve long-term capital growth principally through investment in listed Japanese companies. It currently has negative earnings. It invests in a portfolio of over 40 companies in Japan selected from approximately 3,500 listed stocks in the Japan market.
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