The stock of JP Morgan Asian Investment Trust Plc (LON:JAI) gapped down by GBX 2.937 today and has GBX 237.95 target or 13.00% below today’s GBX 273.50 share price. The 8 months technical chart setup indicates high risk for the GBX 259.95 million company. The gap down was reported on Nov, 10 by Barchart.com. If the GBX 237.95 price target is reached, the company will be worth GBX 33.79M 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 0.18% or GBX 0.5 on November 10, hitting GBX 273.5. About 81,641 shares traded hands or 88.72% up from the average. JP Morgan Asian Investment Trust Plc (LON:JAI) has risen 8.48% since April 13, 2016 and is uptrending. It has outperformed by 2.83% the S&P500.
JPMorgan Asian Investment Trust plc is a United Kingdom investment trust company. The company has a market cap of 259.95 million GBP. The Trust’s objective is to provide capital growth, primarily from investing in equities quoted on the stock markets of Asia, excluding Japan. It currently has negative earnings. The Trust invests in sectors such as Financials, Information Technology, Consumer Discretionary, Materials, Energy, Industrials, Consumer Staples, Utilities, Health Care and Telecommunication Services.
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