The stock of JPMORGAN JAPAN SMALLER CO TST PLC SUB SHS 1P (LON:JPSS) gapped down by GBX 3.68 today and has GBX 60.08 target or 10.00% below today’s GBX 66.75 share price. The 7 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 10 by Barchart.com. If the GBX 60.08 price target is reached, the company will be worth GBX 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 7.88% or GBX 4.88 on November 10, hitting GBX 66.75. About 46,895 shares traded hands or 149.14% up from the average. JPMORGAN JAPAN SMALLER CO TST PLC SUB SHS 1P (LON:JPSS) has risen 130.23% since April 4, 2016 and is uptrending. It has outperformed by 124.58% the S&P500.
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