The stock of Omega Diagnostics Group Plc (LON:ODX) gapped up by GBX 0.113 today and has GBX 18.66 target or 7.00% above today’s GBX 17.44 share price. The 8 months technical chart setup indicates low risk for the GBX 19.30M company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 18.66 price target is reached, the company will be worth GBX 1.35M 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 1.76% or GBX 0.31 on November 22, hitting GBX 17.44. About 160,203 shares traded hands or 184.19% up from the average. Omega Diagnostics Group Plc (LON:ODX) has risen 9.23% since April 22, 2016 and is uptrending. It has outperformed by 4.68% the S&P500.
Another recent and important Omega Diagnostics Group Plc (LON:ODX) news was published by Fool.Co.Uk which published an article titled: “Should I Sell Shire plc & Buy Omega Diagnostics Group plc Right Now?” on July 07, 2015.
Omega Diagnostics Group PLC is a medical diagnostics company. The company has a market cap of 19.30 million GBP. The Company’s divisions are Allergy and Autoimmune; Food Intolerance; Infectious/Other, and Corporate. It has a 33.41 P/E ratio. The Company’s product categories include allergy, anemia, autoimmunity, fertility and growth hormones, food intolerance, infectious disease, inflammation, quality control, thyroid hormones and tumor markers.
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