The stock of ProVen VCT plc (LON:PVN) gapped up by GBX 0.5 today and has GBX 262.21 target or 175.00% above today’s GBX 95.35 share price. The 7 months technical chart setup indicates low risk for the GBX 95.53 million company. The gap was reported on Nov, 10 by Barchart.com. If the GBX 262.21 price target is reached, the company will be worth GBX 167.18 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 1.44% or GBX 1.4 on November 10, hitting GBX 95.35. About 5,000 shares traded hands or 109.64% up from the average. ProVen VCT plc (LON:PVN) has declined 3.51% since April 13, 2016 and is downtrending. It has underperformed by 9.16% the S&P500.
Another recent and important ProVen VCT plc (LON:PVN) news was published by Businesswire.com which published an article titled: “PolyTherics Acquires Warwick Effect Polymers and Expands Technology Portfolio …” on January 20, 2012.
ProVen VCT plc is a United Kingdom-based investment company. The company has a market cap of 95.53 million GBP. The Company’s principal objective is to achieve long-term returns greater than those available from investing in a portfolio of quoted companies, by investing in a portfolio of carefully selected qualifying investments in small and medium sized unquoted companies with excellent growth prospects, and a portfolio of non-qualifying investments, including cash, liquidity funds, fixed interest securities, debt and debt-related securities in growth companies, and non-qualifying venture capital investments, within the conditions imposed on all venture capital trusts , and to minimize the risk of each investment and the portfolio as a whole. It has a 10.59 P/E ratio. The Company’s portfolio includes investments in various sectors, such as general growth capital, business software and services, clean technology, healthcare and life sciences, media, retail and consumer products, and other.
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