The stock of RICOH CO LTD RICOH ORD SHS (LON:RICO) gapped up by GBX 4.2 today and has GBX 1114.33 target or 31.00% above today’s GBX 850.63 share price. The 9 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 8 by Barchart.com. If the GBX 1114.33 price target is reached, the company will be worth GBX 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 decreased 0.04% or GBX 0.37 on November 8, hitting GBX 850.63. About 30,200 shares traded hands. RICOH CO LTD RICOH ORD SHS (LON:RICO) has declined 20.65% since April 12, 2016 and is downtrending. It has underperformed by 22.61% the S&P500.
Another recent and important RICOH CO LTD RICOH ORD SHS (LON:RICO) news was published by Uk.Finance.Yahoo.com which published an article titled: “PEG Ratio (5 yr expected):” on March 27, 2014.
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