KONAMI HOLDINGS CORPORATION JPY50 Gap Down Today Means Higher Risks Forward

 KONAMI HOLDINGS CORPORATION JPY50 Gap Down Today Means Higher Risks Forward

The stock of KONAMI HOLDINGS CORPORATION JPY50 (LON:KNM) gapped down by GBX 250.1 today and has GBX 3762.29 target or 3.00% below today’s GBX 3878.65 share price. The 7 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 3762.29 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 7.47% or GBX 313.35 on November 22, hitting GBX 3878.65. About 62,400 shares traded hands or 5270.05% up from the average. KONAMI HOLDINGS CORPORATION JPY50 (LON:KNM) has risen 11.34% since April 26, 2016 and is uptrending. It has outperformed by 6.78% the S&P500.

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