The stock of EVRAZ plc (LON:EVR) gapped up by GBX 1.5 today and has GBX 297.05 target or 8.00% above today’s GBX 275.05 share price. The 5 months technical chart setup indicates low risk for the GBX 3.93 billion company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 297.05 price target is reached, the company will be worth GBX 314.40M 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 4.66% or GBX 12.25 on November 23, hitting GBX 275.05. About 3.83 million shares traded hands or 42.91% up from the average. EVRAZ plc (LON:EVR) has risen 91.11% since April 26, 2016 and is uptrending. It has outperformed by 85.79% the S&P500.
EVRAZ plc (LON:EVR) Ratings Coverage
Out of 7 analysts covering Evraz Plc (LON:EVR), 1 rate it a “Buy”, 6 “Sell”, while 0 “Hold”. This means 14% are positive. GBX 140 is the highest target while GBX 30 is the lowest. The GBX 80.83 average target is -70.61% below today’s (GBX 275.05) stock price. Evraz Plc has been the topic of 25 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Jefferies maintained the shares of EVR in a report on Friday, August 28 with “Hold” rating. The stock of EVRAZ plc (LON:EVR) has “Neutral” rating given on Tuesday, August 11 by Credit Suisse. The firm earned “Outperform” rating on Friday, July 1 by Credit Suisse. The stock of EVRAZ plc (LON:EVR) earned “Underperform” rating by Jefferies on Tuesday, October 25. The firm earned “Hold” rating on Thursday, September 3 by Jefferies. The firm has “Sell” rating given on Friday, August 26 by Citigroup. Credit Suisse maintained the stock with “Neutral” rating in Tuesday, October 6 report. The rating was maintained by Barclays Capital with “Equal Weight” on Wednesday, October 21. The rating was maintained by Jefferies with “Underperform” on Friday, February 5. The company was maintained on Tuesday, October 20 by Jefferies.
EVRAZ plc is a United Kingdom-based steel, mining and vanadium company. The company has a market cap of 3.93 billion GBP. The Company’s principal activities include manufacturing steel and steel products, iron ore mining and enrichment, coal mining, manufacturing vanadium products, and trading activities and logistics. It currently has negative earnings. The Firm has four divisions: Steel; Steel, North America; Coal, and Other Operations.
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