The stock of Better Capital PCC Ltd (LON:BCAP) gapped down by GBX 0.125 today and has GBX 94.38 target or 9.00% below today’s GBX 103.71 share price. The 9 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 22 by Barchart.com. If the GBX 94.38 price target is reached, the company will be worth GBX 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 0.28% or GBX 0.29 on November 22, hitting GBX 103.71. About 14,473 shares traded hands. Better Capital PCC Ltd (LON:BCAP) has declined 6.11% since April 25, 2016 and is downtrending. It has underperformed by 10.67% the S&P500.
Better Capital PCC Limited is a closed-ended investment company. The company has a market cap of GBP. The Firm acts as Protected Cell Company, and also acts as a feeder fund, through each cell, and pursues an investment objective, which aims to generate total returns by investing in a portfolio of distressed businesses , such returns being expected to accrue largely through capital growth. It currently has negative earnings. The Company’s divisions include the 2009 Cell and the 2012 Cell.
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