The stock of Scottish Oriental Smaller Co’s Trust PLC (LON:SST) gapped down by GBX 10.978 today and has GBX 818.40 target or 12.00% below today’s GBX 930.00 share price. The 9 months technical chart setup indicates high risk for the GBX 286.62 million company. The gap down was reported on Nov, 10 by Barchart.com. If the GBX 818.40 price target is reached, the company will be worth GBX 34.39 million 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 0.11% or GBX 1 on November 10, hitting GBX 930. About 14,900 shares traded hands. Scottish Oriental Smaller Co’s Trust PLC (LON:SST) has risen 3.11% since April 13, 2016 and is uptrending. It has underperformed by 2.54% the S&P500.
Scottish Oriental Smaller Companies Trust PLC is a United Kingdom investment company. The company has a market cap of 286.62 million GBP. The investment objective of the Trust is to achieve long-term capital growth by investing in smaller Asian quoted companies. It has a 3.86 P/E ratio. The Company’s investment Regions include China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam.
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