What’s Propelling IMEX SYSTEMS INC to Decline So Much? The Stock Gaps Down Today

 What's Propelling IMEX SYSTEMS INC to Decline So Much? The Stock Gaps Down Today

The stock of IMEX SYSTEMS INC (CVE:IMEX) gapped down by $0.02 today and has $0.39 target or 8.00% below today’s $0.42 share price. The 9 months technical chart setup indicates high risk for the $3.67 million company. The gap down was reported on Nov, 22 by Barchart.com. If the $0.39 price target is reached, the company will be worth $293,600 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%. About 36,000 shares traded hands or 209.12% up from the average. IMEX SYSTEMS INC (CVE:IMEX) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.

More notable recent IMEX SYSTEMS INC (CVE:IMEX) news were published by: Marketwired.com which released: “Ba Ba Capital Announces Closing of Reverse Take-Over Transaction With Imex …” on May 13, 2016, also Marketwired.com with their article: “Ba Ba Capital Announces Reverse Take-Over Transaction With Imex Systems Inc.” published on February 19, 2016, Marketwired.com published: “Imex Systems Inc. Announces Listing on the TSX Venture Exchange” on June 10, 2016. More interesting news about IMEX SYSTEMS INC (CVE:IMEX) were released by: Marketwired.com and their article: “Imex Systems Inc. Early Warning Press Release” published on May 17, 2016 as well as Bloomberg.com‘s news article titled: “Imax CEO Plans to Double Theaters in China in Five Years” with publication date: November 21, 2013.

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