The stock of Challenger Acquisitions Ltd (LON:CHAL) gapped up by GBX 0.075 today and has GBX 16.08 target or 9.00% above today’s GBX 14.75 share price. The 7 months technical chart setup indicates low risk for the GBX 3.23 million company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 16.08 price target is reached, the company will be worth GBX 290,700 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 0.84% or GBX 0.12 on November 22, hitting GBX 14.75. About 5,755 shares traded hands. Challenger Acquisitions Ltd (LON:CHAL) has declined 48.26% since April 21, 2016 and is downtrending. It has underperformed by 52.82% the S&P500.
More news for Challenger Acquisitions Ltd (LON:CHAL) were recently published by: Fool.Co.Uk, which released: “Should You Buy Totally Plc, Challenger Acquisitions Ltd & Nostra Terra Oil and …” on March 15, 2016. Uk.Finance.Yahoo.com‘s article titled: “Challenger Acquisitions Limited (CHAL.L)” and published on November 11, 2013 is yet another important article.
Challenger Acquisitions Limited has been formed to undertake acquisitions of target companies in the entertainment and leisure sectors with a particular focus on the attractions sector. The company has a market cap of 3.23 million GBP. The Firm is engaged in engineering and delivering giant observation wheels. It currently has negative earnings. The Company’s divisions include Engineering, Investments and Corporate Center.
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