What Next for NEXJ SYSTEMS INC After Today’s Gap Down?

 What Next for NEXJ SYSTEMS INC After Today's Gap Down?

The stock of NEXJ SYSTEMS INC (TSE:NXJ) gapped down by $0.05 today and has $3.12 target or 4.00% below today’s $3.25 share price. The 5 months technical chart setup indicates high risk for the $76.68M company. The gap down was reported on Dec, 1 by Barchart.com. If the $3.12 price target is reached, the company will be worth $3.07 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%. About 22,802 shares traded hands. NEXJ SYSTEMS INC (TSE:NXJ) has risen 82.50% since April 27, 2016 and is uptrending. It has outperformed by 76.57% the S&P500.

More recent NEXJ SYSTEMS INC (TSE:NXJ) news were published by: Seekingalpha.com which released: “NEXJ Systems’ (NEXJF) CEO Bill Tatham on Q4 2015 Results – Earnings Call …” on February 19, 2016. Also Reuters.com published the news titled: “BRIEF-Nexj Systems Q3 revenue C$8.9 million” on October 27, 2016. Seekingalpha.com‘s news article titled: “NEXJ Systems’ (NEXJF) CEO Bill Tatham on Q3 2016 Results – Earnings Call …” with publication date: October 30, 2016 was also an interesting one.

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