The stock of MayAir Group plc (LON:MAYA) gapped down by GBX 0.917 today and has GBX 82.72 target or 12.00% below today’s GBX 94.00 share price. The 6 months technical chart setup indicates high risk for the GBX 39.22 million company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 82.72 price target is reached, the company will be worth GBX 4.71M 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 1.05% or GBX 1 on November 18, hitting GBX 94. About 26,000 shares traded hands. MayAir Group plc (LON:MAYA) has risen 37.68% since April 20, 2016 and is uptrending. It has outperformed by 33.25% the S&P500.
More recent MayAir Group plc (LON:MAYA) news were published by: Businesswire.com which released: “Global Gas Phase Filtration Market Growth of 5% CAGR by 2021 – Analysis …” on March 21, 2016. Also Prnewswire.com published the news titled: “Global Gas Phase Filtration (Packed Bed and Combination) Market Competition …” on August 30, 2016. Prnewswire.com‘s news article titled: “Global HEPA Filters Market Worth US$2.7 Billion in 2016 – By Application, By …” with publication date: August 09, 2016 was also an interesting one.
MayAir Group plc is a producer and developer of air filtration equipment and clean air solutions. The company has a market cap of 39.22 million GBP. The principal activity of the Company is the production, marketing and distribution of clean air products and equipment and provision of related services. It has a 13.31 P/E ratio. The Company’s geographical divisions are People’s Republic of China and Others.
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