AusGroup
Previously it was trading at the range between $0.88 and $1.09. After the news that "The Australia-based engineering firmwarned that it will report a loss in its third quarter.", AusGroup plunged nearly 25 percent, causing a runaway gap to be formed. Volume increased significantly meaning that there is good chance this change in market direction will continue. ADX is below both +DI and -DI, and RSI is trending downwards to oversold.
The next level to be concerned with, would be at $0.595.
Recommendation
SHORT at $0.795
STOP LOSS at $1.10
TARGET PRICE at $0.595
Reward/Risk Ratio: 0.66
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