The stock of Brighton Pier Group PLC (LON:PIER) gapped up by GBX 2.5 today and has GBX 203.11 target or 82.00% above today’s GBX 111.60 share price. The 6 months technical chart setup indicates low risk for the GBX 36.65 million company. The gap was reported on Nov, 10 by Barchart.com. If the GBX 203.11 price target is reached, the company will be worth GBX 30.05 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 0.36% or GBX 0.4 on November 10, hitting GBX 111.6. Brighton Pier Group PLC (LON:PIER) has risen 49.67% since April 13, 2016 and is uptrending. It has outperformed by 44.02% the S&P500.
Another recent and important Brighton Pier Group PLC (LON:PIER) news was published by Ft.com which published an article titled: “Noble Group puts Brighton Pier up for sale” on June 30, 2011.
The Brighton Pier Group PLC, formerly Eclectic Bar Group PLC, is engaged in management and operation of bars and nightclubs across the United Kingdom. The company has a market cap of 36.65 million GBP. The Firm focuses on delivering added value for its customers, with product ranges, music and entertainment, and a commitment service levels and standards. It has a 37200 P/E ratio. The Eclectic Group trades across its estate under a variety of brands, including Embargo 59, Lola Lo, Sakura, Po Na Na and Fez Club.
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