The stock of Safestore Holdings Plc (LON:SAFE) gapped up by GBX 3.5 today and has GBX 541.97 target or 50.00% above today’s GBX 361.31 share price. The 6 months technical chart setup indicates low risk for the GBX 776.11M company. The gap was reported on Nov, 18 by Barchart.com. If the GBX 541.97 price target is reached, the company will be worth GBX 388.06M 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 0.79% or GBX 2.81 on November 18, hitting GBX 361.31. About 320,089 shares traded hands or 4.45% up from the average. Safestore Holdings Plc (LON:SAFE) has risen 6.66% since April 20, 2016 and is uptrending. It has outperformed by 2.23% the S&P500.
Safestore Holdings Plc (LON:SAFE) Ratings Coverage
Out of 8 analysts covering Safestore Holdings PLC (LON:SAFE), 6 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 75% are positive. Safestore Holdings PLC has been the topic of 48 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Liberum Capital given on Wednesday, February 17. The firm has “Buy” rating given on Thursday, February 25 by Investec. The company was maintained on Friday, March 11 by Numis Securities. Citigroup maintained the stock with “Buy” rating in Tuesday, September 29 report. Numis Securities maintained the shares of SAFE in a report on Thursday, September 8 with “Add” rating. The rating was maintained by Numis Securities with “Buy” on Thursday, June 16. The firm has “Buy” rating given on Friday, January 15 by Liberum Capital. As per Thursday, November 17, the company rating was maintained by Numis Securities. Jefferies maintained it with “Hold” rating and GBX 361 target price in Friday, August 19 report. The firm has “Buy” rating by Numis Securities given on Wednesday, November 18.
Safestore Holdings plc is a United Kingdom self-storage company. The company has a market cap of 776.11 million GBP. The Firm is engaged in providing self-storage spaces and the sale of ancillary products, such as insurance and merchandise. It has a 8 P/E ratio. The Firm operates in two geographical divisions: the United Kingdom and France.
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