Intec Pharma Ltd Gaps Down Today, Is Now One of The Worst Performers

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The stock of Intec Pharma Ltd (NASDAQ:NTEC) gapped down by $0.03 today and has $4.77 target or 14.00% below today’s $5.55 share price. The 8 months technical chart setup indicates high risk for the $65.82M company. The gap down was reported on Dec, 12 by If the $4.77 price target is reached, the company will be worth $9.21 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%. The stock decreased 3.48% or $0.2 on December 11, hitting $5.55. About 21,146 shares traded hands or 35.08% up from the average. Intec Pharma Ltd (NASDAQ:NTEC) has risen 6.00% since November 12, 2015 and is uptrending. It has outperformed by 10.42% the S&P500.

Out of 2 analysts covering Intec Pharma (NASDAQ:NTEC), 0 rate it “Buy”, 0 “Sell”, while 0 “Hold”. This means NaN are positive. Intec Pharma was the topic in 3 analyst reports since September 11, 2015 according to StockzIntelligence Inc.

According to Zacks Investment Research, “Intec Pharma Ltd. is a biopharmaceutical company. The company focused on developing drugs through proprietary Accordion Pill platform technology. Its product candidates in clinical trial stages consists of Accordion Pill Carbidopa/Levodopa developed for the indication of treatment of Parkinson’s disease symptoms; Accordion Pill Zaleplon is being developed for the indication of treatment of insomnia, including sleep induction and the improvement of sleep maintenance. Intec Pharma Ltd. is based in JERUSALEM, Israel.” Get a free copy of the Zacks research report on Intec Pharma Ltd (NTEC).

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