The stock of Quartix Holdings PLC (LON:QTX) gapped down by GBX 1 today and has GBX 319.60 target or 6.00% below today’s GBX 340.00 share price. The 7 months technical chart setup indicates high risk for the GBX 166.89M company. The gap down was reported on Nov, 22 by Barchart.com. If the GBX 319.60 price target is reached, the company will be worth GBX 10.01 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 decreased 3.55% or GBX 12.5 on November 22, hitting GBX 340. About 232,234 shares traded hands or 1525.49% up from the average. Quartix Holdings PLC (LON:QTX) has risen 7.48% since April 25, 2016 and is uptrending. It has outperformed by 2.92% the S&P500.
More news for Quartix Holdings PLC (LON:QTX) were recently published by: Fool.Co.Uk, which released: “Should you sell Gulf Keystone Petroleum Limited and buy Xeros Technology Group …” on May 25, 2016. Fool.Co.Uk‘s article titled: “Are Quindell PLC Profits Better Spent On Quartix PLC?” and published on January 08, 2015 is yet another important article.
Quartix Holdings plc is a United Kingdom supplier of vehicle tracking systems and services. The company has a market cap of 166.89 million GBP. The Firm operates in designing, development and marketing of vehicle tracking devices and the provision of related data services segment. It has a 29.04 P/E ratio. The Firm offers subscription vehicle tracking systems, software and services in the United Kingdom.
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