The stock of Silver Chef Limited (ASX:SIV) gapped up by $0.1 today and has $19.67 target or 79.00% above today’s $10.99 share price. The 9 months technical chart setup indicates low risk for the $396.06M company. The gap was reported on Nov, 3 by Barchart.com. If the $19.67 price target is reached, the company will be worth $312.89M 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 1.95% or $0.21 on November 3, hitting $10.99. Silver Chef Limited (ASX:SIV) has risen 21.98% since April 7, 2016 and is uptrending. It has outperformed by 20.76% the S&P500.
More notable recent Silver Chef Limited (ASX:SIV) news were published by: Fool.com.Au which released: “Here’s why Silver Chef Limited shares plummeted 17%” on July 21, 2016, also Fool.com.Au with their article: “Why has the Silver Chef Limited share price suddenly soared 10%?” published on February 23, 2016, Fool.com.Au published: “Is Silver Chef Limited’s sparkling result enough to power the share price higher?” on August 24, 2015. More interesting news about Silver Chef Limited (ASX:SIV) were released by: Fool.com.Au and their article: “Silver Chef Limited soars 8% on profit jump: Should you buy?” published on February 20, 2015 as well as Fool.com.Au‘s news article titled: “4 small-cap stocks to supercharge your portfolio” with publication date: November 12, 2015.
Silver Chef Limited is a commercial equipment rental and financing company. The company has a market cap of $396.06 million. The Firm provides flexible equipment funding solutions to small and medium sized businesses. It has a 15.98 P/E ratio. The Firm operates through two divisions, which include Silver Chef and GoGetta.
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