The stock of RICOH CO LTD RICOH ORD SHS (LON:RICO) gapped down by GBX 34.311 today and has GBX 755.61 target or 11.00% below today’s GBX 849.00 share price. The 6 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 10 by Barchart.com. If the GBX 755.61 price target is reached, the company will be worth GBX less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock increased 4.81% or GBX 39 on November 10, hitting GBX 849. About 2,500 shares traded hands. RICOH CO LTD RICOH ORD SHS (LON:RICO) has declined 25.20% since April 14, 2016 and is downtrending. It has underperformed by 30.85% 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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