The stock of Redefine International PLC (LON:RDI) gapped down by GBX 0.03 today and has GBX 34.97 target or 6.00% below today’s GBX 37.20 share price. The 8 months technical chart setup indicates high risk for the GBX 634.63M company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 34.97 price target is reached, the company will be worth GBX 38.08 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 decreased 0.40% or GBX 0.15 on November 18, hitting GBX 37.2. About 2.23 million shares traded hands. Redefine International PLC (LON:RDI) has declined 18.11% since April 12, 2016 and is downtrending. It has underperformed by 22.54% the S&P500.
Redefine International PLC (LON:RDI) Ratings Coverage
Out of 4 analysts covering Redefine International (LON:RDI), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Redefine International has been the topic of 15 analyst reports since October 29, 2015 according to StockzIntelligence Inc. As per Wednesday, April 27, the company rating was maintained by Deutsche Bank. Peel Hunt maintained Redefine International PLC (LON:RDI) rating on Wednesday, July 20. Peel Hunt has “Add” rating and GBX 50 price target. The stock of Redefine International PLC (LON:RDI) earned “Neutral” rating by JP Morgan on Friday, November 11. JP Morgan upgraded Redefine International PLC (LON:RDI) rating on Friday, March 4. JP Morgan has “Neutral” rating and GBX 50 price target. On Friday, October 28 the stock rating was maintained by Deutsche Bank with “Hold”. The stock of Redefine International PLC (LON:RDI) earned “Hold” rating by Deutsche Bank on Monday, February 1. The firm has “Neutral” rating by JP Morgan given on Wednesday, April 27. Peel Hunt maintained it with “Add” rating and GBX 48 target price in Thursday, October 27 report. The stock has “Add” rating given by Peel Hunt on Tuesday, April 26. The stock of Redefine International PLC (LON:RDI) has “Underweight” rating given on Thursday, October 29 by JP Morgan.
Redefine International P.L.C. is a United Kingdom real estate investment trust . The company has a market cap of 634.63 million GBP. The Company’s divisions include UK Retail, UK Hotels, UK Commercial, Europe and Other. It has a 71.95 P/E ratio. The UK Retail segment consists of approximately six shopping centers and over five retail parks.
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