The stock of Andes Energia PLC (LON:AEN) gapped up by GBX 0.025 today and has GBX 60.99 target or 128.00% above today’s GBX 26.75 share price. The 9 months technical chart setup indicates low risk for the GBX 176.78 million company. The gap was reported on Nov, 18 by Barchart.com. If the GBX 60.99 price target is reached, the company will be worth GBX 226.28M 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 2.73% or GBX 0.75 on November 18, hitting GBX 26.75. About 468,960 shares traded hands or 73.28% up from the average. Andes Energia PLC (LON:AEN) has risen 58.27% since April 20, 2016 and is uptrending. It has outperformed by 53.84% the S&P500.
Another recent and important Andes Energia PLC (LON:AEN) news was published by Bloomberg.com which published an article titled: “Argentina Oil’s Bonanza Helping Too Few Led by Political Friends” on March 06, 2014.
Andes Energia plc is a United Kingdom gas and oil production, appraisal and exploration firm with interests in Argentina, Colombia and Paraguay. The company has a market cap of 176.78 million GBP. The Firm is focused on onshore blocks in South America. It currently has negative earnings. The Company’s geographic divisions are Colombia and Argentina.
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