Is Major Move Coming For G4S plc After This Gap Up?

 Is Major Move Coming For G4S plc After This Gap Up?

The stock of G4S plc (LON:GFS) gapped up by GBX 10.397 today and has GBX 356.89 target or 47.00% above today’s GBX 242.78 share price. The 7 months technical chart setup indicates low risk for the GBX 3.77 billion company. The gap was reported on Nov, 2 by Barchart.com. If the GBX 356.89 price target is reached, the company will be worth GBX 1.77 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 10.30% or GBX 22.68 on November 2, hitting GBX 242.78. About 16.06 million shares traded hands or 314.99% up from the average. G4S plc (LON:GFS) has risen 29.84% since April 5, 2016 and is uptrending. It has outperformed by 27.32% the S&P500.

G4S plc (LON:GFS) Ratings Coverage

Out of 17 analysts covering G4S PLC (LON:GFS), 6 rate it a “Buy”, 4 “Sell”, while 7 “Hold”. This means 35% are positive. G4S PLC has been the topic of 84 analyst reports since July 27, 2015 according to StockzIntelligence Inc. As per Monday, July 25, the company rating was maintained by BNP Paribas. The firm earned “Underperform” rating on Friday, April 1 by Jefferies. The firm earned “Buy” rating on Tuesday, February 9 by Stifel Nicolaus. The firm has “Neutral” rating by BNP Paribas given on Monday, August 8. As per Friday, October 7, the company rating was maintained by Credit Suisse. Barclays Capital maintained the stock with “Overweight” rating in Monday, August 10 report. Goldman Sachs maintained the shares of GFS in a report on Thursday, September 8 with “Neutral” rating. The stock of G4S plc (LON:GFS) earned “Overweight” rating by JP Morgan on Wednesday, August 12. Credit Suisse maintained the shares of GFS in a report on Thursday, August 13 with “Outperform” rating. The rating was maintained by JP Morgan with “Overweight” on Friday, November 20.

More recent G4S plc (LON:GFS) news were published by: Bloomberg.com which released: “G4S Under Scrutiny After Employing Orlando Killer Since 2007” on June 12, 2016. Also Globenewswire.com published the news titled: “G4S plc UK DK : Criminals using 3D printing present growing threat to global …” on July 21, 2016. Marketwatch.com‘s news article titled: “G4S logs double-digit growth in earnings” with publication date: November 02, 2016 was also an interesting one.

G4S Plc is a security company specializing in the provision of security and related services to customers. The company has a market cap of 3.77 billion GBP. The Company’s divisions include Africa, Asia Middle East, Latin America, Europe, North America, and UK & Ireland. It has a 76.54 P/E ratio. It offers Secure solutions products, including manned security and facilities management services, and Cash solutions, mainly the provision of physical cash management services.

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