The stock of WS Atkins PLC (LON:ATK) gapped down by GBX 12 today and has GBX 1376.10 target or 9.00% below today’s GBX 1512.20 share price. The 7 months technical chart setup indicates high risk for the GBX 1.51 billion company. The gap down was reported on Nov, 22 by Barchart.com. If the GBX 1376.10 price target is reached, the company will be worth GBX 135.90 million 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 0.25% or GBX 3.8 on November 22, hitting GBX 1512.2. About 401,741 shares traded hands or 74.61% up from the average. WS Atkins PLC (LON:ATK) has risen 9.79% since April 26, 2016 and is uptrending. It has outperformed by 5.23% the S&P500.
WS Atkins PLC (LON:ATK) Ratings Coverage
Out of 12 analysts covering Atkins W S PLC (LON:ATK), 6 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 50% are positive. Atkins W S PLC has been the topic of 68 analyst reports since July 29, 2015 according to StockzIntelligence Inc. JP Morgan maintained it with “Overweight” rating and GBX 1820 target price in Friday, November 18 report. The company was maintained on Friday, September 2 by Peel Hunt. The firm has “Add” rating given on Wednesday, February 10 by Peel Hunt. As per Wednesday, May 4, the company rating was maintained by Liberum Capital. The firm earned “Neutral” rating on Wednesday, July 29 by RBC Capital Markets. The stock of WS Atkins PLC (LON:ATK) has “Overweight” rating given on Tuesday, November 8 by JP Morgan. The stock of WS Atkins PLC (LON:ATK) has “Buy” rating given on Thursday, October 22 by Numis Securities. The firm has “Buy” rating by Numis Securities given on Tuesday, August 2. On Thursday, September 24 the stock rating was maintained by Invest-ec with “Hold”. The company was maintained on Wednesday, July 29 by Sanlam Securities.
WS Atkins plc is engaged in providing design, engineering and project management consultancy services. The company has a market cap of 1.51 billion GBP. The Firm operates through five divisions: UK and Europe, North America, Middle East, Asia Pacific and Energy. It has a 18.28 P/E ratio. In the UK and Europe segment, the Company’s focus is on planning, designing and enabling its clients’ capital programs and projects in and around infrastructure and transportation, as well as providing engineering consultancy services to other markets.
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