The stock of Nobilis Health Corp (TSE:NHC) gapped down by $0.01 today and has $2.89 target or 3.00% below today’s $2.98 share price. The 7 months technical chart setup indicates high risk for the $222.98 million company. The gap down was reported on Dec, 1 by Barchart.com. If the $2.89 price target is reached, the company will be worth $6.69M 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 1.11M shares traded hands or 115.37% up from the average. Nobilis Health Corp (TSE:NHC) has risen 6.00% since November 1, 2016 and is uptrending. It has outperformed by 0.07% the S&P500.
Nobilis Health Corp. owns and manages healthcare facilities in the States of Texas and Arizona, consisting primarily of ambulatory surgery centers (ASCs) and acute-care and surgical hospitals. The company has a market cap of $222.98 million. The Company’s divisions include Medical Services, Marketing Services and Corporate. It has a 4.02 P/E ratio. The Medical Services segment owns and manages approximately nine healthcare facilities in Texas and Arizona; over four hospitals, and approximately five ambulatory surgery centers.
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