Nanotech Security Corp’s Stock Is Sell After Today’s Gap Down … – Frisco Fastball

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The stock of Nanotech Security Corp (CVE:NTS) gapped down by $0.02 today and has $1.37 target or 7.00% below today’s $1.47 share price. The 7 months technical chart setup indicates high risk for the $77.12 million company. The gap down was reported on Dec, 7 by Barchart.com. If the $1.37 price target is reached, the company will be worth $5.40M 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…

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