The stock of JPMORGAN JAPAN SMALLER CO TST PLC SUB SHS 1P (LON:JPSS) gapped down by GBX 0.25 today and has GBX 51.94 target or 6.00% below today’s GBX 55.25 share price. The 6 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 22 by Barchart.com. If the GBX 51.94 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 decreased 1.78% or GBX 1 on November 22, hitting GBX 55.25. About 30,613 shares traded hands or 29.69% up from the average. JPMORGAN JAPAN SMALLER CO TST PLC SUB SHS 1P (LON:JPSS) has risen 40.63% since April 14, 2016 and is uptrending. It has outperformed by 36.07% the S&P500.
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