The stock of K&C Reit PLC (LON:KCR) gapped down by GBX 0.5 today and has GBX 5.34 target or 11.00% below today’s GBX 6.00 share price. The 6 months technical chart setup indicates high risk for the GBX 2.44 million company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 5.34 price target is reached, the company will be worth GBX 268,400 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 6 during the last session. It is down 14.29% since April 20, 2016 and is downtrending. It has underperformed by 18.72% the S&P500.
K&C REIT plc is a United Kingdom real estate investment trust (REIT) focused on the central London residential market. The company has a market cap of 2.44 million GBP. The Company’s objective is to build a residential property portfolio through the acquisition of special purpose vehicles (SPVs) with capital gains. It has a 0.38 P/E ratio. It focuses on acquiring, developing and managing residential property assets.
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