The stock of South32 Ltd (LON:S32) gapped up by GBX 3 today and has GBX 182.37 target or 8.00% above today’s GBX 168.86 share price. The 7 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 182.37 price target is reached, the company will be worth GBX 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 4.07% or GBX 6.61 on November 23, hitting GBX 168.86. About 5.65M shares traded hands or 33.89% up from the average. South32 Ltd (LON:S32) has risen 97.08% since April 27, 2016 and is uptrending. It has outperformed by 91.75% the S&P500.
South32 Ltd (LON:S32) Ratings Coverage
Out of 11 analysts covering South32 Limited Ord Npv Di Wi (LON:S32), 5 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 45% are positive. GBX 210 is the highest target while GBX 47 is the lowest. The GBX 141.18 average target is -16.39% below today’s (GBX 168.86) stock price. South32 Limited Ord Npv Di Wi has been the topic of 123 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The rating was maintained by Deutsche Bank on Tuesday, August 25 with “Buy”. Macquarie Research maintained the shares of S32 in a report on Tuesday, November 1 with “Outperform” rating. The company was maintained on Tuesday, August 9 by Deutsche Bank. Deutsche Bank maintained South32 Ltd (LON:S32) on Friday, August 26 with “Hold” rating. The firm has “Neutral” rating given on Monday, April 18 by Citigroup. The firm has “Equal Weight” rating by Barclays Capital given on Thursday, July 21. On Thursday, January 21 the stock rating was maintained by Liberum Capital with “Hold”. The stock of South32 Ltd (LON:S32) earned “Outperform” rating by Macquarie Research on Friday, October 21. The stock has “Hold” rating given by Deutsche Bank on Monday, June 6. The rating was maintained by Jefferies with “Hold” on Tuesday, August 30.
More important recent South32 Ltd (LON:S32) news were published by: Wsj.com which released: “A Year After Spinoff from BHP, South32 Shapes Up” on June 02, 2016, also Fool.com.Au published article titled: “Can South32 Ltd shares go higher?”, Fool.com.Au published: “Why South32 Ltd shares are sinking on its year to forget” on August 25, 2016. More interesting news about South32 Ltd (LON:S32) was released by: Fool.com.Au and their article: “South32 Ltd shares go gangbusters on dividend talk” with publication date: July 12, 2016.
South32 Limited is a metals and mining company. The company has a market cap of GBP.
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