The stock of Dunedin Income Growth Investment Tr PLC (LON:DIG) gapped up by GBX 2 today and has GBX 449.69 target or 93.00% above today’s GBX 233.00 share price. The 7 months technical chart setup indicates low risk for the GBX 347.99 million company. The gap was reported on Nov, 8 by Barchart.com. If the GBX 449.69 price target is reached, the company will be worth GBX 323.63 million 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 0.16% or GBX 0.38 on November 8, hitting GBX 233. About 141,448 shares traded hands or 67.15% up from the average. Dunedin Income Growth Investment Tr PLC (LON:DIG) has declined 2.74% since April 11, 2016 and is downtrending. It has underperformed by 4.69% the S&P500.
Dunedin Income Growth Investment Trust PLC is a United Kingdom investment company. The company has a market cap of 347.99 million GBP. The Firm is an investment trust and its objective is to achieve growth of income and capital from a portfolio invested mainly in companies listed or quoted in the United Kingdom. It has a 15.94 P/E ratio. The Company’s portfolio consists of equity or equity-related securities, and it can invest in other financial instruments.
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