Could Gear4music Holdings PLC Change Direction After Reaching 52-Week High?

 Could Gear4music Holdings PLC Change Direction After Reaching 52 Week High?

The stock of Gear4music Holdings PLC (LON:G4M) hit a new 52-week high and has GBX 478.44 target or 8.00% above today’s GBX 443.00 share price. The 5 months bullish chart indicates low risk for the GBX 89.39 million company. The 1-year high was reported on Nov, 22 by Barchart.com. If the GBX 478.44 price target is reached, the company will be worth GBX 7.15M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 2.43% or GBX 10.5 on November 22, hitting GBX 443. About 69,697 shares traded hands. Gear4music Holdings PLC (LON:G4M) has risen 232.69% since April 21, 2016 and is uptrending. It has outperformed by 228.14% the S&P500.

Gear4music plc is engaged in the online retailing of musical instruments and equipment. The company has a market cap of 89.39 million GBP. The Firm sells its own-brand musical instruments and music equipment alongside with other brands. It has a 43.42 P/E ratio. The Firm offers over 1,500 products, which are sold under approximately eight brands, including Gear4music; Archer, which offers string instruments, such as violins, cellos, violas and double bass; Redsub, which offers bass guitar amplifiers and pedals; SubZero, which offers guitars, amplifiers, mixers, speakers and audio electronics; Minster, which offers digital pianos; Rosedale, which offers woodwind instruments, such as clarinets, flutes, oboes and piccolos, and Brass Instruments, which offers trumpets, trombones, tubas and French horns.

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