The stock of Airea Plc (LON:AIEA) gapped up by GBX 0.49 today and has GBX 35.91 target or 5.00% above today’s GBX 34.20 share price. The 8 months technical chart setup indicates low risk for the GBX 14.23M company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 35.91 price target is reached, the company will be worth GBX 711,500 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 0.15% or GBX 0.05 on November 22, hitting GBX 34.2. About 14,583 shares traded hands. Airea Plc (LON:AIEA) has risen 73.42% since April 25, 2016 and is uptrending. It has outperformed by 68.86% the S&P500.
Airea plc is a specialist flooring company. The company has a market cap of 14.23 million GBP. The Company’s principal activities are focused on manufacturing, marketing and distribution of floor coverings. It has a 11.25 P/E ratio. It offers brands, which include burmatex and Ryalux.
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