Time to Sell Gattaca PLC After Today’s Gap Down?

 Time to Sell Gattaca PLC After Today's Gap Down?

The stock of Gattaca PLC (LON:GATC) gapped down by GBX 3.5 today and has GBX 262.74 target or 13.00% below today’s GBX 302.00 share price. The 8 months technical chart setup indicates high risk for the GBX 89.40 million company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 262.74 price target is reached, the company will be worth GBX 11.62 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 2.90% or GBX 8.5 on November 18, hitting GBX 302. About 105,529 shares traded hands or 39.42% up from the average. Gattaca PLC (LON:GATC) has declined 35.67% since April 21, 2016 and is downtrending. It has underperformed by 40.10% the S&P500.

Another recent and important Gattaca PLC (LON:GATC) news was published by Marketwatch.com which published an article titled: “Gattaca shares fall as Brexit hits UK demand” on November 03, 2016.

Gattaca plc, formerly Matchtech Group plc, is a well-known provider of specialist recruitment services to the engineering and technology industries, both in the United Kingdom and internationally. The company has a market cap of 89.40 million GBP. The Firm is a human capital resources business dealing with contract and permanent recruitment in the private and public sectors. It has a 9.76 P/E ratio. It operates through three divisions: Engineering, Professional Services and Networkers.

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