The stock of Elektron Technology PLC (LON:EKT) gapped up by GBX 0.057 today and has GBX 14.65 target or 117.00% above today’s GBX 6.75 share price. The 9 months technical chart setup indicates low risk for the GBX 12.93M company. The gap was reported on Nov, 18 by Barchart.com. If the GBX 14.65 price target is reached, the company will be worth GBX 15.13M 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 1.82% or GBX 0.12 on November 18, hitting GBX 6.75. About 71,120 shares traded hands. Elektron Technology PLC (LON:EKT) has risen 19.57% since April 20, 2016 and is uptrending. It has outperformed by 15.14% the S&P500.
Another recent and important Elektron Technology PLC (LON:EKT) news was published by Uk.Finance.Yahoo.com which published an article titled: “Elektron Technology plc (EKT.L)” on March 16, 2014.
Elektron Technology plc is a holding company. The company has a market cap of 12.93 million GBP. The Firm is engaged in designing, manufacturing and marketing products that connect, monitor and control. It currently has negative earnings. It operates in two divisions: Connectivity, and Instrumentation, Monitoring and Control .
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