Could Relx PLC Change Direction After Today’s Gap Up?

 Could Relx PLC Change Direction After Today's Gap Up?

The stock of Relx PLC (LON:REL) gapped up by GBX 4 today and has GBX 1502.26 target or 9.00% above today’s GBX 1378.22 share price. The 9 months technical chart setup indicates low risk for the GBX 28.64B company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 1502.26 price target is reached, the company will be worth GBX 2.58B 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 0.97% or GBX 13.22 on November 23, hitting GBX 1378.22. About 3.36M shares traded hands. Relx PLC (LON:REL) has risen 11.72% since April 26, 2016 and is uptrending. It has outperformed by 6.39% the S&P500.

Relx PLC (LON:REL) Ratings Coverage

Out of 17 analysts covering Reed Elsevier PLC (LON:REL), 11 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 65% are positive. GBX 1750 is the highest target while GBX 1025 is the lowest. The GBX 1448.29 average target is 5.08% above today’s (GBX 1378.22) stock price. Reed Elsevier PLC has been the topic of 86 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Tuesday, November 22 by Credit Suisse. The firm has “Outperform” rating by BNP Paribas given on Thursday, October 20. The rating was maintained by Credit Suisse on Tuesday, August 9 with “Neutral”. The stock has “Buy” rating given by Liberum Capital on Thursday, September 15. The rating was maintained by Panmure Gordon on Thursday, October 27 with “Hold”. Nomura maintained Relx PLC (LON:REL) rating on Friday, July 24. Nomura has “Buy” rating and GBX 1210 price target. UBS maintained the shares of REL in a report on Tuesday, September 13 with “Buy” rating. The stock of Relx PLC (LON:REL) earned “Buy” rating by Investec on Thursday, July 23. BNP Paribas maintained Relx PLC (LON:REL) on Friday, July 29 with “Outperform” rating. The firm has “Overweight” rating given on Wednesday, October 28 by Barclays Capital.

Another recent and important Relx PLC (LON:REL) news was published by Streetinsider.com which published an article titled: “Form 6-K RELX PLC For: Nov 22 Filed by: RELX NV” on November 22, 2016.

RELX PLC is a United Kingdom-based company holding shares in RELX Group plc. The company has a market cap of 28.64 billion GBP. RELX Group plc is a global well-known provider of information and analytics for professional and business clients across industries. It has a 26.29 P/E ratio. RELX Group plc serves clients in more than 180 countries.

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