The stock of Regal Petroleum PLC (LON:RPT) gapped down by GBX 0.025 today and has GBX 3.44 target or 3.00% below today’s GBX 3.55 share price. The 6 months technical chart setup indicates high risk for the GBX 11.83 million company. The gap down was reported on Nov, 22 by Barchart.com. If the GBX 3.44 price target is reached, the company will be worth GBX 354,900 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 4.95% or GBX 0.18 on November 22, hitting GBX 3.55. Regal Petroleum PLC (LON:RPT) has risen 52.45% since April 25, 2016 and is uptrending. It has outperformed by 47.89% the S&P500.
More important recent Regal Petroleum PLC (LON:RPT) news were published by: Uk.Finance.Yahoo.com which released: “Regal Petroleum plc (RPT.L)” on March 30, 2014, also Bloomberg.com published article titled: “Resource Tycoon Timis Faces Investor Anger as Miner Implodes”, Ft.com published: “Regal fine punishes victims of scandal again” on November 17, 2009. More interesting news about Regal Petroleum PLC (LON:RPT) was released by: Bloomberg.com and their article: “Timis Said to Win Approval to Resume $1 Billion Manganese Mine” with publication date: December 24, 2015.
Regal Petroleum plc is an independent gas and oil company. The company has a market cap of 11.83 million GBP. The Firm is engaged in the business of gas and oil exploration, development and production. It has a 9.89 P/E ratio. The Firm has gas and oil development and producing asset in Ukraine.
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