The stock of Akers Biosciences Inc (LON:AKR) gapped down by GBX 10.05 today and has GBX 161.04 target or 12.00% below today’s GBX 183.00 share price. The 5 months technical chart setup indicates high risk for the GBX 10.18M company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 161.04 price target is reached, the company will be worth GBX 1.22M 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 6.15% or GBX 12 on November 18, hitting GBX 183. Akers Biosciences Inc (LON:AKR) has risen 56.00% since April 20, 2016 and is uptrending. It has outperformed by 51.57% the S&P500.
More news for Akers Biosciences Inc (LON:AKR) were recently published by: Marketwatch.com, which released: “Akers Biosciences halves loss; revenue up 262%” on November 14, 2016. Quotes.Wsj.com‘s article titled: “News Akers Biosciences Inc.AKER” and published on January 24, 2014 is yet another important article.
Akers Biosciences, Inc. develops, manufactures and supplies point-of-care screening and testing products designed to bring health-related information to the patient or clinician. The company has a market cap of 10.18 million GBP. The Company’s product offerings and pipeline products focus on delivering diagnostic assistance in a range of healthcare fields/specialties, including cardiology/emergency medicine, metabolism/nutrition, diabetes, respiratory diseases and infectious diseases detection, as well as for on and off-the-job alcohol safety initiatives. It currently has negative earnings. The Company’s primary focus is the development and sale of disposable diagnostic testing devices that can be performed in minutes, to facilitate time sensitive therapeutic decisions.
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