Nov. 3 at 4:20 PM
$IT - Gartner, Inc. opened with a substantial full gap up of 7.99% from the previous close of
$337.59, starting the day at
$364.58. The gap has been partially backfilled by 16%, but with the odds of it closing today at 59%, it's below our preferred threshold for trading.
However, the likelihood of the gap filling within the next five days stands at a promising 83%. Considering today is not the optimal day for gap fills, which historically is Friday, it may be prudent to monitor
$IT for a potential entry point as the week progresses.
Currently trading at
$392.82, with today's range between
$360.22 and
$401.18, the stock shows volatility that could be leveraged in upcoming sessions. While the large gap suggests a trend continuation, traders should aim for the realistic profit goal of about 0.5% when the conditions align.
Given that the gap has not been filled 100%, the opportunity for gap trading remains, but caution is advised until the odds improve.
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