Time to Sell Artilium plc After Today’s Gap Down?

 Time to Sell Artilium plc After Today's Gap Down?

The stock of Artilium plc (LON:ARTA) gapped down by GBX 0.125 today and has GBX 6.31 target or 3.00% below today’s GBX 6.50 share price. The 7 months technical chart setup indicates high risk for the GBX 20.05 million company. The gap down was reported on Nov, 30 by Barchart.com. If the GBX 6.31 price target is reached, the company will be worth GBX 601,500 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 3.70% or GBX 0.25 on November 30, hitting GBX 6.5. About 200,000 shares traded hands. Artilium plc (LON:ARTA) has risen 12.77% since May 3, 2016 and is uptrending. It has outperformed by 7.54% the S&P500.

Artilium plc is a United Kingdom-based well-known provider of telecommunication software and solutions. The company has a market cap of 20.05 million GBP. The Company’s divisions include Artilium, United Telecom and Comsys. It currently has negative earnings. The Company’s Artilium provides mobile telecommunications software to network operators and enablers.

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