The stock of Airea Plc (LON:AIEA) gapped up by GBX 0.25 today and has GBX 37.56 target or 7.00% above today’s GBX 35.10 share price. The 9 months technical chart setup indicates low risk for the GBX 14.54M company. The gap was reported on Nov, 24 by Barchart.com. If the GBX 37.56 price target is reached, the company will be worth GBX 1.02M 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 1.75% or GBX 0.6 on November 24, hitting GBX 35.1. About 58,960 shares traded hands or 139.25% up from the average. Airea Plc (LON:AIEA) has risen 87.01% since April 28, 2016 and is uptrending. It has outperformed by 81.60% the S&P500.
Airea plc is a specialist flooring company. The company has a market cap of 14.54 million GBP. The Company’s principal activities are focused on manufacturing, marketing and distribution of floor coverings. It has a 11.54 P/E ratio. It offers brands, which include burmatex and Ryalux.
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