The stock of Savannah Petroleum PLC (LON:SAVP) gapped up by GBX 0.4 today and has GBX 39.79 target or 42.00% above today’s GBX 28.02 share price. The 6 months technical chart setup indicates low risk for the GBX 78.22M company. The gap was reported on Nov, 18 by Barchart.com. If the GBX 39.79 price target is reached, the company will be worth GBX 32.85M 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 decreased 0.81% or GBX 0.23 on November 18, hitting GBX 28.02. About 5,000 shares traded hands. Savannah Petroleum PLC (LON:SAVP) has risen 19.58% since April 19, 2016 and is uptrending. It has outperformed by 15.15% the S&P500.
Savannah Petroleum PLC (LON:SAVP) Ratings Coverage
Out of 2 analysts covering Savannah Petroleum Plc (LON:SAVP), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Savannah Petroleum Plc has been the topic of 6 analyst reports since August 27, 2015 according to StockzIntelligence Inc. On Monday, November 16 the stock rating was maintained by Panmure Gordon with “Buy”. The company was maintained on Tuesday, September 27 by Panmure Gordon. The rating was maintained by Shore Capital on Thursday, August 27 with “Buy”. The rating was maintained by Shore Capital on Thursday, November 17 with “Buy”.
Another recent and important Savannah Petroleum PLC (LON:SAVP) news was published by Ft.com which published an article titled: “Savannah Petroleum to float on Aim” on July 29, 2014.
Savannah Petroleum PLC is a United Kingdom gas and oil company. The company has a market cap of 78.22 million GBP. The Company’s principal activity is the management of its investment in Savannah Petroleum 1 Limited . It currently has negative earnings. SP1 is a subsidiary of the Company.
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