The stock of Lancashire Holdings Limited (LON:LRE) gapped down by GBX 14.14 today and has GBX 601.46 target or 6.00% below today’s GBX 639.85 share price. The 9 months technical chart setup indicates high risk for the GBX 1.16B company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 601.46 price target is reached, the company will be worth GBX 69.60 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 increased 0.53% or GBX 3.35 on November 18, hitting GBX 639.85. About 968,630 shares traded hands or 100.27% up from the average. Lancashire Holdings Limited (LON:LRE) has risen 13.56% since April 21, 2016 and is uptrending. It has outperformed by 9.13% the S&P500.
Lancashire Holdings Limited (LON:LRE) Ratings Coverage
Out of 19 analysts covering Lancashire Holdings Ltd (LON:LRE), 5 rate it a “Buy”, 4 “Sell”, while 10 “Hold”. This means 26% are positive. Lancashire Holdings Ltd has been the topic of 111 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by Peel Hunt with “Hold” on Thursday, October 6. The stock has “Buy” rating given by Haitong Securities on Thursday, November 5. As per Tuesday, January 5, the company rating was maintained by Bernstein. The stock of Lancashire Holdings Limited (LON:LRE) earned “Neutral” rating by JP Morgan on Friday, January 15. On Tuesday, September 13 the stock rating was maintained by Citigroup with “Buy”. The firm has “Buy” rating by HSBC given on Monday, March 14. Peel Hunt maintained the stock with “Hold” rating in Thursday, May 5 report. Numis Securities downgraded Lancashire Holdings Limited (LON:LRE) rating on Wednesday, July 27. Numis Securities has “Add” rating and GBX 720 price target. As per Monday, October 10, the company rating was maintained by Peel Hunt. The stock of Lancashire Holdings Limited (LON:LRE) has “Underweight” rating given on Monday, October 31 by Barclays Capital.
Another recent and important Lancashire Holdings Limited (LON:LRE) news was published by Fool.Co.Uk which published an article titled: “Why I Sold HSBC Holdings plc For Lancashire Holdings Limited” on October 07, 2014.
Lancashire Holdings Limited is a United Kingdom company, which is engaged in the provision of global specialty insurance and reinsurance products. The company has a market cap of 1.16 billion GBP. The Firm operates through five divisions: Lloyd’s, Property, Energy, Marine and Aviation. It has a 10.21 P/E ratio. The Firm operates as a specialty insurer/reinsurer operating across three platforms: Lancashire, Cathedral and Kinesis.
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