Time to Sell Deltex Medical Group plc After Today’s Gap Down?

 Time to Sell Deltex Medical Group plc After Today's Gap Down?

The stock of Deltex Medical Group plc (LON:DEMG) gapped down by GBX 0.04 today and has GBX 3.76 target or 3.00% below today’s GBX 3.88 share price. The 9 months technical chart setup indicates high risk for the GBX 11.36 million company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 3.76 price target is reached, the company will be worth GBX 340,800 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 6.06% or GBX 0.25 on November 24, hitting GBX 3.88. About 595,299 shares traded hands or 134.95% up from the average. Deltex Medical Group plc (LON:DEMG) has 0.00% since April 26, 2016 and is . It has underperformed by 5.41% the S&P500.

Deltex Medical Group plc is a United Kingdom haemodynamic management company, which makes fluid management devices. The company has a market cap of 11.36 million GBP. The Company’s divisions are Probes and Other. It currently has negative earnings. The Company’s Esophageal Doppler Simulator enables clinicians to practice probe insertion, focussing and waveform interpretation outside of a patient setting.

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