Is Major Move Coming For Symphony Environmental Technologies plc After This Gap Up?

 Is Major Move Coming For Symphony Environmental Technologies plc After This Gap Up?

The stock of Symphony Environmental Technologies plc (LON:SYM) gapped up by GBX 0.125 today and has GBX 5.53 target or 30.00% above today’s GBX 4.25 share price. The 7 months technical chart setup indicates low risk for the GBX 6.92 million company. The gap was reported on Nov, 18 by Barchart.com. If the GBX 5.53 price target is reached, the company will be worth GBX 2.08M 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 3.03% or GBX 0.12 on November 18, hitting GBX 4.25. Symphony Environmental Technologies plc (LON:SYM) has declined 2.94% since April 19, 2016 and is downtrending. It has underperformed by 7.37% the S&P500.

Another recent and important Symphony Environmental Technologies plc (LON:SYM) news was published by Plasticsnews.com which published an article titled: “Symphony Environmental defends biodegradable plastics in recycling stream” on September 17, 2014.

Symphony Environmental Technologies plc is engaged in controlled-life plastic and sells both pro-degradant additives and finished plastic products. The company has a market cap of 6.92 million GBP. The Company’s business activities include development and supply of environmental plastic products to a global market, and the development of waste to value projects. It currently has negative earnings. It also supplies other flexible polythene and related products.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment