The stock of Satellite Solutions Worldwide Group PLC (LON:SAT) gapped up by GBX 0.125 today and has GBX 16.20 target or 109.00% above today’s GBX 7.75 share price. The 8 months technical chart setup indicates low risk for the GBX 45.39M company. The gap was reported on Nov, 18 by Barchart.com. If the GBX 16.20 price target is reached, the company will be worth GBX 49.48M 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 1.64% or GBX 0.12 on November 18, hitting GBX 7.75. About 1.50M shares traded hands or 29.31% up from the average. Satellite Solutions Worldwide Group PLC (LON:SAT) has declined 11.59% since April 20, 2016 and is downtrending. It has underperformed by 16.02% the S&P500.
Another recent and important Satellite Solutions Worldwide Group PLC (LON:SAT) news was published by Uk.Finance.Yahoo.com which published an article titled: “-LSE Ticker: T6SRD2/ISIN: GB00BT6SRD21” on May 12, 2015.
Satellite Solutions Worldwide Group PLC is a United Kingdom global communications company, which is engaged in offering rural and last-mile satellite broadband. The company has a market cap of 45.39 million GBP. The Firm offers a range of satellite broadband services for clients across over 30 countries. It currently has negative earnings. With solutions targeting business-to-consumer (B2C) and business-to-business (B2B) users, and with products developed specifically for the broadcasting/satellite news gathering (SNG), police and military markets, its brand Europasat (www.europasat.com) is an independent well-known provider of satellite broadband Internet services across Europe.
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