What Next for Vocus Communications Limited After Today’s Gap Down?

 What Next for Vocus Communications Limited After Today's Gap Down?

The stock of Vocus Communications Limited (ASX:VOC) gapped down by $0.57 today and has $4.18 target or 4.00% below today’s $4.35 share price. The 6 months technical chart setup indicates high risk for the $2.70 billion company. The gap down was reported on Nov, 29 by Barchart.com. If the $4.18 price target is reached, the company will be worth $108.00 million 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 24.48% or $1.41 on November 29, hitting $4.35. About 40.17 million shares traded hands or 1047.71% up from the average. Vocus Communications Limited (ASX:VOC) has declined 50.94% since May 3, 2016 and is downtrending. It has underperformed by 56.20% the S&P500.

More notable recent Vocus Communications Limited (ASX:VOC) news were published by: Fool.com.Au which released: “Why the Vocus Communications Limited share price crashed on AGM update” on November 29, 2016, also Fool.com.Au with their article: “SMACKED: Why Vocus Communications Limited shares dropped 15%” published on November 28, 2016, Fool.com.Au published: “Shirtfronted: Why the Vocus Communications Limited share price is plunging today” on October 11, 2016. More interesting news about Vocus Communications Limited (ASX:VOC) were released by: Fool.com.Au and their article: “Vocus Communications Limited triples profit, is it good value?” published on August 23, 2016 as well as Reuters.com‘s news article titled: “Australian telecom firm Vocus buys rival, gains ground on market heavyweig…” with publication date: June 29, 2016.

Vocus Communications Limited is an integrated telecommunications provider. The company has a market cap of $2.70 billion. The Firm is engaged in providing telecommunications and other services to clients across Australia and New Zealand. It has a 22.44 P/E ratio. The Company’s divisions include Australia and New Zealand.

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