The stock of Provexis plc (LON:PXS) gapped down by $19.52 today and has $0.37 target or 12.00% below today’s $0.42 share price. The 7 months technical chart setup indicates high risk for the $7.70 million company. The gap down was reported on Nov, 15 by Barchart.com. If the $0.37 price target is reached, the company will be worth $924,000 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 4.55% or GBX 0.02 on November 15, hitting GBX 0.42. About 56,357 shares traded hands. Provexis plc (LON:PXS) has risen 39.68% since April 18, 2016 and is uptrending. It has outperformed by 35.76% the S&P500.
According to Zacks Investment Research, “Pyxis Tankers Inc. provides marine transportation. The Company offers transporting refined petroleum products such as naphtha, gasoline, jet fuel, kerosene, diesel, fuel oil as well as other liquid bulk items, including organic chemicals. Pyxis Tankers Inc. is based in Maroussi, Greece.”
More recent Provexis plc (LON:PXS) news were published by: Uk.Finance.Yahoo.com which released: “-LSE Ticker: 0923P2/ISIN: GB00B0923P27” on March 29, 2014. Also Bloomberg.com published the news titled: “Gel-Squeezing Cyclists in Lycra Fuel Science in Sport IPO” on August 09, 2013. Bloomberg.com‘s news article titled: “Nude Olympian Joins Andy Murray to Sell Hot Sports Drink: Health” with publication date: May 16, 2012 was also an interesting one.
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