The stock of ACUITYADS HOLDINGS INC (CVE:AT) gapped down by $0.2 today and has $2.05 target or 7.00% below today’s $2.20 share price. The 8 months technical chart setup indicates high risk for the $64.26M company. The gap down was reported on Dec, 1 by Barchart.com. If the $2.05 price target is reached, the company will be worth $4.50M 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 249,091 shares traded hands or 287.17% up from the average. ACUITYADS HOLDINGS INC (CVE:AT) has risen 6.00% since November 1, 2016 and is uptrending. It has outperformed by 0.07% the S&P500.
Another recent and important ACUITYADS HOLDINGS INC (CVE:AT) news was published by Marketwired.com which published an article titled: “AcuityAds Holdings Inc. Announces Start of Trading on TSXV” on July 22, 2014.
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