What’s Ahead for Cloudbuy PLC After Today’s Gap Down?

 What's Ahead for Cloudbuy PLC After Today's Gap Down?

The stock of Cloudbuy PLC (LON:CBUY) gapped down by GBX 0.025 today and has GBX 3.49 target or 7.00% below today’s GBX 3.75 share price. The 6 months technical chart setup indicates high risk for the GBX 5.04 million company. The gap down was reported on Nov, 22 by Barchart.com. If the GBX 3.49 price target is reached, the company will be worth GBX 352,800 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 3.23% or GBX 0.12 on November 22, hitting GBX 3.75. About 8,720 shares traded hands. Cloudbuy PLC (LON:CBUY) has declined 55.07% since April 22, 2016 and is downtrending. It has underperformed by 59.63% the S&P500.

More important recent Cloudbuy PLC (LON:CBUY) news were published by: Uk.Finance.Yahoo.com which released: “CloudBuy plc (CBUY.L)” on March 29, 2014, also Fool.Co.Uk published article titled: “Why Cloudbuy PLC Jumped Today”, Fool.Co.Uk published: “Which Is Your Best Software Bet: AVEVA Group plc, IDOX plc Or Cloudbuy PLC?” on May 19, 2015. More interesting news about Cloudbuy PLC (LON:CBUY) was released by: Businesswire.com and their article: “cloudBuy to Deliver eMarketplace for Australian State Government” with publication date: August 22, 2014.

cloudBuy plc is a provider of an integrated software platform for e-procurement and e-commerce for the trading of goods and services between purchasers, such as public sector bodies and their suppliers, along with the analysis and coding of spend and product data. The company has a market cap of 5.04 million GBP. The Company’s operating divisions include Company Formation Services, Web and ecommerce services and Coding International Limited. It currently has negative earnings. It also provides services to new businesses, including incorporation, firm secretary services and filing annual returns, using its software platform.

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