The stock of SOURCE PHYSICAL MARKETS PLC SOURCE PHYSICAL GOLD P-ETC (LON:SGLP) gapped down by GBX 119.05 today and has GBX 8497.40 target or 11.00% below today’s GBX 9547.64 share price. The 5 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 11 by Barchart.com. If the GBX 8497.40 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 decreased 3.40% or GBX 335.86 on November 11, hitting GBX 9547.64. About 21,281 shares traded hands. SOURCE PHYSICAL MARKETS PLC SOURCE PHYSICAL GOLD P-ETC (LON:SGLP) has risen 20.65% since March 30, 2016 and is uptrending. It has outperformed by 14.51% the S&P500.
Another recent and important SOURCE PHYSICAL MARKETS PLC SOURCE PHYSICAL GOLD P-ETC (LON:SGLP) news was published by Ft.com which published an article titled: “Gold rises to $1260 a troy ounce on haven demand” on February 11, 2016.
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