The stock of CML Microsystems Plc (LON:CML) gapped up by GBX 10.7 today and has GBX 408.74 target or 7.00% above today’s GBX 382.00 share price. The 6 months technical chart setup indicates low risk for the GBX 64.46 million company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 408.74 price target is reached, the company will be worth GBX 4.51M 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 1.19% or GBX 4.5 on November 23, hitting GBX 382. About 3,522 shares traded hands. CML Microsystems Plc (LON:CML) has declined 0.92% since April 26, 2016 and is downtrending. It has underperformed by 6.25% the S&P500.
More news for CML Microsystems Plc (LON:CML) were recently published by: Fool.Co.Uk, which released: “Why Shares In CML Microsystems Plc Plunged 20%” on June 10, 2014. Businessinsider.com‘s article titled: “UK Stocks-Factors to watch on Nov 22” and published on November 22, 2016 is yet another important article.
CML Microsystems Plc designs, manufactures and markets a range of semiconductor products for use in communications and data storage industries. The company has a market cap of 64.46 million GBP. The Firm offers semiconductor products for professional applications within the storage, wireless and wireline communications market areas. It has a 21.3 P/E ratio. It operates in the United Kingdom, the United States, Germany, Singapore and Taiwan.
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