The stock of BASF SE BASF SE REG SHS (LON:BFA) gapped up by GBX 0.785 today and has GBX 137.05 target or 73.00% above today’s GBX 79.22 share price. The 6 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 8 by Barchart.com. If the GBX 137.05 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 increased 0.68% or GBX 0.54 on November 8, hitting GBX 79.22. About 657,385 shares traded hands or 22.65% up from the average. BASF SE BASF SE REG SHS (LON:BFA) has risen 23.46% since April 11, 2016 and is uptrending. It has outperformed by 21.51% the S&P500.
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