The stock of Blue Prism Group PLC (LON:PRSM) gapped up by GBX 8.8 today and has GBX 348.74 target or 6.00% above today’s GBX 329.00 share price. The 6 months technical chart setup indicates low risk for the GBX 203.13 million company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 348.74 price target is reached, the company will be worth GBX 12.19M 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 6.13% or GBX 19 on November 22, hitting GBX 329. About 116,875 shares traded hands or 15.42% up from the average. Blue Prism Group PLC (LON:PRSM) has risen 168.40% since April 21, 2016 and is uptrending. It has outperformed by 163.84% the S&P500.
Another recent and important Blue Prism Group PLC (LON:PRSM) news was published by Businesswire.com which published an article titled: “Software Robots Pioneer Blue Prism Debuts on the London Stock Exchange’s AIM …” on March 15, 2016.
Blue Prism Group plc is a United Kingdom company, which supplies a virtual workforce powered by software robots. The company has a market cap of 203.13 million GBP. The Company’s enterprise-grade software enables the automation of manual, rules-based, administrative processes to create back-office. It currently has negative earnings. The Company’s segment is the licensing of Robotic Process Automation software used to automate routine, rules and back office processes.
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