The stock of Paragon Entertainment Ltd (LON:PEL) gapped up by GBX 0.043 today and has GBX 3.53 target or 3.00% above today’s GBX 3.43 share price. The 8 months technical chart setup indicates low risk for the GBX 6.34 million company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 3.53 price target is reached, the company will be worth GBX 190,200 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 increased 9.76% or GBX 0.31 on November 22, hitting GBX 3.43. About 2.34 million shares traded hands or 218.25% up from the average. Paragon Entertainment Ltd (LON:PEL) has risen 83.82% since April 21, 2016 and is uptrending. It has outperformed by 79.27% the S&P500.
Another recent and important Paragon Entertainment Ltd (LON:PEL) news was published by Reuters.com which published an article titled: “BRIEF-Paragon Entertainment sees higher FY EBITDA” on November 01, 2016.
Paragon Entertainment Limited is a holding company, which is engaged in the distribution of pre-packaged leisure and attraction products and license branded attraction concepts to operators of attractions and leisure destinations. The company has a market cap of 6.34 million GBP. The Company’s principal activities include licensing and distribution, and Paragon Creative Limited, through which it conducts design and build business. It has a 11.55 P/E ratio. The Company’s divisions include Design and Build, and Licensing and Distribution.
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