The stock of Pennant International Group plc (LON:PEN) gapped up by GBX 0.1 today and has GBX 134.50 target or 96.00% above today’s GBX 68.62 share price. The 9 months technical chart setup indicates low risk for the GBX 23.48 million company. The gap was reported on Nov, 18 by Barchart.com. If the GBX 134.50 price target is reached, the company will be worth GBX 22.54 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 increased 1.67% or GBX 1.12 on November 18, hitting GBX 68.62. About 33,150 shares traded hands or 178.20% up from the average. Pennant International Group plc (LON:PEN) has risen 98.53% since April 20, 2016 and is uptrending. It has outperformed by 94.10% the S&P500.
More news for Pennant International Group plc (LON:PEN) were recently published by: Fool.Co.Uk, which released: “Should You Buy KAZ Minerals plc, Pennant International Group plc And Shanks …” on September 28, 2015. Fool.Co.Uk‘s article titled: “Should You Follow Heavy Selling At Halosource Inc & Pennant International …” and published on December 11, 2015 is yet another important article.
Pennant International Group plc is a United Kingdom firm engaged in the provision of management services. The company has a market cap of 23.48 million GBP. The Firm operates through three divisions: Training Systems, which provides and supports specialist training systems based on software emulation, hardware simulation, virtual reality and computer training in the defense sector; Data Services, which provides media, graphics, virtual reality software and technical documentation to the defense, rail, power and government sectors, and Software, which owns the rights to the Omega suite of software used by defense contractors and by defense authorities in Canada and Australia. It currently has negative earnings. It offers services that cover training equipment and related support, technical documentation, media development, software development and related consultancy.
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