The stock of Thalassa Holdings Limited (LON:THAL) gapped up by GBX 2 today and has GBX 47.96 target or 9.00% above today’s GBX 44.00 share price. The 9 months technical chart setup indicates low risk for the GBX 10.09M company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 47.96 price target is reached, the company will be worth GBX 908,100 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 2.33% or GBX 1 on November 22, hitting GBX 44. About 392,050 shares traded hands or 1948.11% up from the average. Thalassa Holdings Limited (LON:THAL) has risen 3.61% since April 22, 2016 and is uptrending. It has underperformed by 0.94% the S&P500.
Thalassa Holdings Ltd is a holding company. The company has a market cap of 10.09 million GBP. The Firm operates in geophysical project management, services and the supply of equipment segment. It currently has negative earnings. The Company’s directly owned subsidiaries in the energy services industry include WGP Group Ltd , which is focused on marine geophysical services in production enhancement, exploration and surveying, and GO Science Group Ltd (GO), which is an autonomous underwater vehicle (AUV) research and development firm with a subsidiary Autonomous Robotics Limited.
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