time to turn it up a notch, page-24

Murad, gaps can take years to close. But the general rule is the longer the time elapsed, and the greater the SP movement away from the gap, the less likely to close.

As an example, amongst others on the forex forum on HC, I've been following very closely on a weekly basis a particular phenomenon called the monday morning gap which occurs on many FX pairs most Mondays (due to economic news over the weekend which is the only time of the weekend the forex market is closed). Greater than 80% of those gaps close within 24 hours, that percentage increases to 90% within 3 days, but some can stay open for weeks or months (generally the larger gaps stay open longer).

You will also see on a lot of stocks that are range-bound that gap closure is quite reliable. However CCC is a high growth story, so its fundamentals should drive price far enough away that the gap will not be a consideration again.

But there's never a guarantee - 6 months is not out of the realms of possibility for a gap closure. What I would say is that if the stocks fundamentals drive the price up, and then for some reason (such as bad performance) they retrace back to a region which is cose to the gap, then the gap may come back into play as a technical target.

Hope that helps.

Cheers, Sharks.