The stock of ADVFN PLC (LON:AFN) gapped down by GBX 0.05 today and has GBX 22.88 target or 12.00% below today’s GBX 26.00 share price. The 7 months technical chart setup indicates high risk for the GBX 6.65M company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 22.88 price target is reached, the company will be worth GBX 798,000 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 7.14% or GBX 2 on November 18, hitting GBX 26. About 8,165 shares traded hands or 219.44% up from the average. ADVFN PLC (LON:AFN) has risen 19.15% since April 20, 2016 and is uptrending. It has outperformed by 14.72% the S&P500.
More news for ADVFN PLC (LON:AFN) were recently published by: Forbes.com, which released: “Online Critic Says He’ll Apologize To Public Company Suing Him” on January 11, 2012. Prweb.com‘s article titled: “Investors Hub Awarded Judgment Against Kenneth Eade” and published on October 12, 2011 is yet another important article.
ADVFN plc is a United Kingdom-based company, which is engaged in the development and provision of financial information primarily through the Internet, research services, and the development and exploitation of ancillary Internet sites. The company has a market cap of 6.65 million GBP. The Firm offers stocks and shares information Website. It currently has negative earnings. The Firm operates through two divisions: provision of financial information and other services.
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