The stock of TRACKX HOLDINGS INC (CVE:TKX) gapped down by $0.005 today and has $0.34 target or 4.00% below today’s $0.35 share price. The 5 months technical chart setup indicates high risk for the $13.28M company. The gap down was reported on Nov, 28 by Barchart.com. If the $0.34 price target is reached, the company will be worth $531,200 less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 53,000 shares traded hands. TRACKX HOLDINGS INC (CVE:TKX) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More important recent TRACKX HOLDINGS INC (CVE:TKX) news were published by: Marketwired.com which released: “TrackX Holdings Inc.: Reverse Takeover Completed” on May 26, 2016, also Marketwatch.com published article titled: “TrackX Holdings Inc.”, Marketwired.com published: “TrackX to Present at RAI$E at the STAMPEDE Investor Conference, July 6-7” on June 29, 2016. More interesting news about TRACKX HOLDINGS INC (CVE:TKX) was released by: Marketwired.com and their article: “TrackX Hires Chief Operating Officer” with publication date: October 18, 2016.
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