Does Stride Gaming PLC Have Any Gas After Today’s Gap Down?

 Does Stride Gaming PLC Have Any Gas After Today's Gap Down?

The stock of Stride Gaming PLC (LON:STR) gapped down by GBX 6.5 today and has GBX 212.35 target or 11.00% below today’s GBX 238.60 share price. The 5 months technical chart setup indicates high risk for the GBX 160.74 million company. The gap down was reported on Nov, 10 by Barchart.com. If the GBX 212.35 price target is reached, the company will be worth GBX 17.68M 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 decreased 0.17% or GBX 0.4 on November 10, hitting GBX 238.6. About 6,248 shares traded hands. Stride Gaming PLC (LON:STR) has risen 2.80% since April 13, 2016 and is uptrending. It has underperformed by 2.85% the S&P500.

Stride Gaming PLC (LON:STR) Ratings Coverage

Out of 2 analysts covering Stride Gaming Plc (LON:STR), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Stride Gaming Plc has been the topic of 4 analyst reports since October 8, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Cantor Fitzgerald on Friday, February 5. The rating was maintained by Cantor Fitzgerald on Monday, November 16 with “Buy”. The stock has “Buy” rating given by Canaccord Genuity on Monday, September 19.

Stride Gaming plc is an online gaming operator in both the Bingo-led and social gaming market. The company has a market cap of 160.74 million GBP. The Company’s divisions include real money gaming and social gaming. It currently has negative earnings. The real money gaming segment focuses on bingo-led online operation, using its own software and purchased software to provide online bingo and related gaming activities to players.

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