The stock of Microgen plc (LON:MCGN) gapped down by GBX 0.5 today and has GBX 155.76 target or 12.00% below today’s GBX 177.00 share price. The 8 months technical chart setup indicates high risk for the GBX 104.02M company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 155.76 price target is reached, the company will be worth GBX 12.48M 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 0.56% or GBX 1 on November 18, hitting GBX 177. Microgen plc (LON:MCGN) has risen 19.87% since April 20, 2016 and is uptrending. It has outperformed by 15.44% the S&P500.
More notable recent Microgen plc (LON:MCGN) news were published by: Businesswire.com which released: “Microgen Releases ‘Aptitude Allocation Engine’ to Enable Enterprises to Unlock …” on January 28, 2014, also Businesswire.com with their article: “Microgen Launches 3D Navigator to Speed up Enterprise Application Development” published on June 26, 2012, Businesswire.com published: “Aptitude Software Announces the Aptitude Revenue Recognition Engine To Address …” on May 29, 2014. More interesting news about Microgen plc (LON:MCGN) were released by: Businesswire.com and their article: “Aptitude Software Announces a Partnership with Cloudera to Make a Better …” published on October 09, 2014 as well as Businesswire.com‘s news article titled: “Aptitude Software Delivers New Big Data Technology for Detailed Profitability …” with publication date: April 02, 2014.
Microgen plc is engaged in the provision of information technology services and solutions. The company has a market cap of 104.02 million GBP. The Company’s software activities include software licenses, maintenance, funded development and related consultancy. It has a 28.51 P/E ratio. It operates through Aptitude Software and Financial Systems divisions.
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.