After Today’s Gap Down, Is Surface Transforms plc’s Near-Term Analysis Negative?

 After Today's Gap Down, Is Surface Transforms plc's Near Term Analysis Negative?

The stock of Surface Transforms plc (LON:SCE) gapped down by GBX 0.49 today and has GBX 22.09 target or 5.00% below today’s GBX 23.25 share price. The 6 months technical chart setup indicates high risk for the GBX 20.96M company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 22.09 price target is reached, the company will be worth GBX 1.05M 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 5.10% or GBX 1.25 on November 24, hitting GBX 23.25. About 35,970 shares traded hands or 2.06% up from the average. Surface Transforms plc (LON:SCE) has risen 43.28% since April 26, 2016 and is uptrending. It has outperformed by 37.87% the S&P500.

Surface Transforms plc (LON:SCE) Ratings Coverage

Out of 2 analysts covering Surface Transforms PLC (LON:SCE), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Surface Transforms PLC has been the topic of 12 analyst reports since December 7, 2015 according to StockzIntelligence Inc. The company was maintained on Wednesday, June 15 by FinnCap. Cantor Fitzgerald maintained the stock with “Buy” rating in Monday, July 11 report. Cantor Fitzgerald maintained the stock with “Buy” rating in Friday, March 18 report. The firm earned “Corporate” rating on Monday, July 18 by FinnCap. The firm has “Buy” rating by Cantor Fitzgerald given on Monday, October 10. Cantor Fitzgerald maintained Surface Transforms plc (LON:SCE) rating on Monday, December 7. Cantor Fitzgerald has “Buy” rating and GBX 25 price target. The firm earned “Corporate” rating on Monday, October 10 by FinnCap. FinnCap maintained the stock with “Corporate” rating in Thursday, April 14 report. The rating was maintained by Cantor Fitzgerald with “Buy” on Thursday, February 18. On Monday, July 11 the stock rating was maintained by FinnCap with “Corporate”.

Another recent and important Surface Transforms plc (LON:SCE) news was published by Uk.Finance.Yahoo.com which published an article titled: “Surface Transforms plc (SCE.L)” on April 02, 2014.

Surface Transforms PLC is engaged in manufacture and sale of carbon fiber reinforced ceramic friction and non-friction materials and the development of technologies associated with this. The company has a market cap of 20.96 million GBP. The Firm makes of carbon-ceramic brake discs for automotive and aircraft applications. It currently has negative earnings. It also makes and supplies carbon pre-forms produced from polyacrylonitrile carbon-fiber weaved into a three-dimensional (3D) structure.

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