The stock of Softcat PLC (LON:SCT) gapped down by GBX 2.8 today and has GBX 284.58 target or 7.00% below today’s GBX 306.00 share price. The 6 months technical chart setup indicates high risk for the GBX 568.45M company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 284.58 price target is reached, the company will be worth GBX 39.79M 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 closed at GBX 306 during the last session. It is up 5.26% since April 21, 2016 and is downtrending. It has underperformed by 9.69% the S&P500.
Softcat PLC (LON:SCT) Ratings Coverage
Out of 5 analysts covering Softcat Plc (LON:SCT), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Softcat Plc has been the topic of 13 analyst reports since January 14, 2016 according to StockzIntelligence Inc. The stock of Softcat PLC (LON:SCT) has “Buy” rating given on Thursday, March 3 by Peel Hunt. The company was maintained on Friday, March 18 by Peel Hunt. Peel Hunt maintained Softcat PLC (LON:SCT) rating on Thursday, November 10. Peel Hunt has “Buy” rating and GBX 380 price target. The firm has “Buy” rating given on Wednesday, May 25 by Peel Hunt. The firm has “Buy” rating by Berenberg given on Thursday, September 29. As per Wednesday, October 19, the company rating was maintained by Credit Suisse. Jefferies maintained the shares of SCT in a report on Tuesday, November 1 with “Hold” rating. The stock of Softcat PLC (LON:SCT) has “Buy” rating given on Monday, July 25 by Berenberg. The firm has “Buy” rating given on Thursday, May 5 by Peel Hunt.
Softcat Plc is an information technology reseller and IT infrastructure solutions well-known provider to the corporate and public sector markets. The company has a market cap of 568.45 million GBP. The Firm provides organizations with workplace, datacenter and networking, and security solutions combined with all the services required to design, implement, support and manage them, on premise or in the cloud. It has a 18.16 P/E ratio. The Company’s solutions include asset management, business intelligence (BI) and analytics, cloud and managed services, collaboration, commodity sourcing, datacenter, end-user computing and mobility, networking and security, print, professional services and software licensing.
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