Could Fulcrum Utility Services Ltd Change Direction After Today’s Gap Down?

 Could Fulcrum Utility Services Ltd Change Direction After Today's Gap Down?

The stock of Fulcrum Utility Services Ltd (LON:FCRM) gapped down by GBX 0.55 today and has GBX 44.18 target or 6.00% below today’s GBX 47.00 share price. The 8 months technical chart setup indicates high risk for the GBX 75.52 million company. The gap down was reported on Nov, 22 by Barchart.com. If the GBX 44.18 price target is reached, the company will be worth GBX 4.53M 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 closed at GBX 47 during the last session. It is down 24.50% since April 25, 2016 and is uptrending. It has outperformed by 19.95% the S&P500.

Fulcrum Utility Services Limited is an independent energy and multi-utility infrastructure and services provider. The company has a market cap of 75.52 million GBP. The Company’s principal activity includes the provision of unregulated utility connections and independent gas transportation services in the United Kingdom. It has a 18.15 P/E ratio. The Company’s divisions include infrastructure services and pipelines.

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