The stock of Work Group Plc (LON:WORK) gapped down by GBX 0.02 today and has GBX 2.42 target or 7.00% below today’s GBX 2.60 share price. The 6 months technical chart setup indicates high risk for the GBX 800,860 company. The gap down was reported on Nov, 22 by Barchart.com. If the GBX 2.42 price target is reached, the company will be worth GBX 56,060 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 13.33% or GBX 0.4 on November 22, hitting GBX 2.6. About 25,000 shares traded hands or 55.96% up from the average. Work Group Plc (LON:WORK) has 0.00% since April 22, 2016 and is . It has underperformed by 4.56% the S&P500.
Another recent and important Work Group Plc (LON:WORK) news was published by Globenewswire.com which published an article titled: “Euroloan Group Plc Interim Report 1.7.-30.9.2016” on November 22, 2016.
Work Group plc is a United Kingdom-based investing company. The company has a market cap of 800,860 GBP. The Firm focuses on investing in and/or acquiring business or assets within the support and business services sector. It currently has negative earnings. The Company’s interests in a proposed investment and/or acquisition may range from a minority position to full ownership, and include a single investment or multiple investments.
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