The stock of Senterra Energy PLC (LON:SEN) gapped down by GBX 1.3 today and has GBX 2.18 target or 9.00% below today’s GBX 2.40 share price. The 6 months technical chart setup indicates high risk for the GBX 661,236 company. The gap down was reported on Nov, 22 by Barchart.com. If the GBX 2.18 price target is reached, the company will be worth GBX 59,511 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 4.00% or GBX 0.1 on November 22, hitting GBX 2.4. About 332,927 shares traded hands. Senterra Energy PLC (LON:SEN) has declined 39.39% since April 22, 2016 and is downtrending. It has underperformed by 43.95% the S&P500.
Senterra Energy plc is a United Kingdom investment company. The company has a market cap of 661,236 GBP. The Company’s nature of activities is to act as a special purpose acquisition company. It currently has negative earnings. The Firm is engaged in taking control of or investing in businesses within the gas and oil sector.
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