What Next for ProVen VCT plc After Today’s Gap Down?

 What Next for ProVen VCT plc After Today's Gap Down?

The stock of ProVen VCT plc (LON:PVN) gapped down by GBX 1.05 today and has GBX 81.63 target or 12.00% below today’s GBX 92.76 share price. The 9 months technical chart setup indicates high risk for the GBX 90.29 million company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 81.63 price target is reached, the company will be worth GBX 10.83 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 1.58% or GBX 1.49 on November 18, hitting GBX 92.76. ProVen VCT plc (LON:PVN) has declined 6.02% since April 21, 2016 and is downtrending. It has underperformed by 10.45% the S&P500.

Another recent and important ProVen VCT plc (LON:PVN) news was published by Globenewswire.com which published an article titled: “Proven VCT plc : Half-yearly report” on November 08, 2016.

ProVen VCT plc is a United Kingdom-based investment company. The company has a market cap of 90.29 million GBP. The Company’s principal 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 10.3 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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