The stock of Proven Growth and Income VCT PLC (LON:PGOO) gapped down by GBX 0.75 today and has GBX 66.15 target or 10.00% below today’s GBX 73.50 share price. The 5 months technical chart setup indicates high risk for the GBX 69.65 million company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 66.15 price target is reached, the company will be worth GBX 6.97 million 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 1.67% or GBX 1.25 on November 18, hitting GBX 73.5. Proven Growth and Income VCT PLC (LON:PGOO) has declined 6.57% since April 21, 2016 and is downtrending. It has underperformed by 11.00% the S&P500.
Another recent and important Proven Growth and Income VCT PLC (LON:PGOO) news was published by Globenewswire.com which published an article titled: “Proven VCT plc : Half-yearly report” on November 08, 2016.
ProVen Growth and Income VCT plc is a United Kingdom investment company. The company has a market cap of 69.65 million GBP. The Company’s investment objective is to achieve long-term returns greater than those available from investing in a portfolio of quoted companies, by investing in a portfolio of carefully selected qualifying investments in small and medium sized unquoted companies with excellent growth prospects, and a portfolio of non-qualifying investments, including cash, liquidity funds, fixed interest securities, debt and debt-related securities in growth companies, and non-qualifying venture capital investments, within the conditions imposed on all venture capital trusts , and to minimize the risk of each investment and the portfolio as a whole. It has a 16.98 P/E ratio. The Company’s portfolio includes investments in various sectors, such as general growth capital, business software and services, clean technology, healthcare and life sciences, media, retail and consumer products, and other.
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