The over allotment closed on April 28 and two days later the stock made a high of.
56… remember the offering price was set to be. When the company announced the share offering, the stock opened the next day on a gap down to. I’m really only concerned with what the chart is telling me in the short term. I’m not looking to invest long term, so I don’t get too involved with those questions. Was it just due to the pandemic or is there an underlying issue with business strategy or management? While not great for the investors holding shares beforehand… it definitely puts them in a better position going forward.īut there’s always the question as to why they were in such bad shape in the first place. GEE Group used the proceeds to pay off $55,000,000 in aggregate outstanding indebtedness under its existing Revolving Credit, Term Loan and Security Agreement. 60 for $50M in proceeds along with an over allotment of 12M shares at. (JOB) provides permanent and temporary professional, industrial, and physician assistant staffing and placement services in the United States.Īs mentioned earlier, the company announced a public offering of over 83M shares at. (JOB) is flirting with the gap created back on April 15. It’s just one piece of the puzzle, and that’s why I always use multiple tools when assessing a potential trade.Ĭurrently, GEE Group, Inc. Sometimes a stock that gaps down/up and then attempts to retest it… or even trade into it a little… before turning on a dime and continuing down/ up. The stock gapped for a reason, so it’s not a blind buy and hold here. So when a stock can break into it, there is the potential to trade through it…also known as filling the gap. When a gap forms, it’s like a psychological void without any specific support or resistance. The good news is that stock gaps provide us with great trading opportunities.Īnd one of my favorite plays on a stock gap is the gap fill-this is when the price of the stock trades back through the gap, closing the space on the chart. Or, in the case of JOB, the announcement of a public offering for 83M+ shares at. Generally, this imbalance is caused by significant news coming out while the market is closed-this could be earnings that miss or beat expectations, a new product announcement, lawsuit, fraud, etc… 56, creating a gap down on the chart.Ī gap is simply an imbalance between buying and selling orders stacked up from when the stock market closed one day and opened the next. Stock GapĪ gap happens when a stock opens lower than the low or higher than the high from the previous day, creating space between the bars on the chart. Specifically, I will talk about what a gap fill is, why it happens, and show you a chart trading near that level. 51 high for a push-through into the gap.Īnd now I’m eyeing another stock chart that looks very similar… What I liked from there was the move back to the. 51 before pulling back and consolidating. I’ve seen stocks fill the gap, both up and down.įor instance, I took a trade in FAMI a while back.Īfter the gap down at the end of April, it made a high at.
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