Bullish Gap Up for Chemring Group plc After Better Fundamentals

 Bullish Gap Up for Chemring Group plc After Better Fundamentals

The stock of Chemring Group plc (LON:CHG) gapped up by GBX 1 today and has GBX 172.81 target or 7.00% above today’s GBX 161.50 share price. The 9 months technical chart setup indicates low risk for the GBX 450.95 million company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 172.81 price target is reached, the company will be worth GBX 31.57 million 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 increased 1.41% or GBX 2.25 on November 22, hitting GBX 161.5. About 720,523 shares traded hands or 92.67% up from the average. Chemring Group plc (LON:CHG) has risen 12.15% since April 22, 2016 and is uptrending. It has outperformed by 7.59% the S&P500.

Chemring Group plc (LON:CHG) Ratings Coverage

Out of 7 analysts covering Chemring Group PLC (LON:CHG), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. Chemring Group PLC has been the topic of 47 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Panmure Gordon downgraded Chemring Group plc (LON:CHG) on Tuesday, October 27 to “Sell” rating. J.P. Morgan maintained Chemring Group plc (LON:CHG) rating on Thursday, January 21. J.P. Morgan has “Neutral” rating and GBX 195 price target. The stock has “Underweight” rating given by Barclays Capital on Monday, September 21. The rating was maintained by Panmure Gordon on Thursday, January 21 with “Sell”. JP Morgan maintained Chemring Group plc (LON:CHG) on Friday, April 8 with “Neutral” rating. The stock of Chemring Group plc (LON:CHG) earned “Underweight” rating by Barclays Capital on Thursday, October 20. The rating was maintained by Liberum Capital on Wednesday, February 17 with “Hold”. The rating was maintained by JP Morgan on Thursday, November 10 with “Neutral”. The company was maintained on Thursday, November 3 by Liberum Capital. The firm has “Underweight” rating by Barclays Capital given on Tuesday, January 5.

Another recent and important Chemring Group plc (LON:CHG) news was published by Fool.Co.Uk which published an article titled: “Is Plummeting Chemring Group Plc Or Steady BAE Systems Plc The Better Defence Buy?” on January 21, 2016.

Chemring Group PLC is a United Kingdom firm that develops and makes protection solutions for defense and security markets. The company has a market cap of 450.95 million GBP.

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