The stock of Octopus Eclipse VCT Plc (LON:OEC1) gapped down by GBX 7.385 today and has GBX 18.71 target or 14.00% below today’s GBX 21.76 share price. The 7 months technical chart setup indicates high risk for the GBX 15.61 million company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 18.71 price target is reached, the company will be worth GBX 2.19 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 2.75% or GBX 0.61 on November 18, hitting GBX 21.76. About 29,000 shares traded hands. Octopus Eclipse VCT Plc (LON:OEC1) has risen 0.83% since March 24, 2016 and is uptrending. It has underperformed by 3.60% the S&P500.
Another recent and important Octopus Eclipse VCT Plc (LON:OEC1) news was published by Globenewswire.com which published an article titled: “Octopus Eclipse VCT plc : Publication of a Prospectus and Circulars in respect …” on November 04, 2016.
Octopus Eclipse VCT plc is a United Kingdom venture capital trust (VCT). The company has a market cap of 15.61 million GBP. The Company’s objective is to invest in a range of smaller unquoted and Alternative Investment Market (AIM)-quoted the United Kingdom companies, which meet the relevant criteria for VCTs in order to generate income and capital growth over the long term. It has a 144.11 P/E ratio. The Firm aims to provide investors with tax-efficient access to a portfolio of companies with growth potential, targeting a tax-free dividend stream, through a combination of regular and special dividend payments.
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