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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