Could Obtala Ltd Recover After Today’s Gap Up?

 Could Obtala Ltd Recover After Today's Gap Up?

The stock of Obtala Ltd (LON:OBT) gapped up by GBX 0.01 today and has GBX 18.90 target or 8.00% above today’s GBX 17.50 share price. The 9 months technical chart setup indicates low risk for the GBX 46.07M company. The gap was reported on Nov, 24 by Barchart.com. If the GBX 18.90 price target is reached, the company will be worth GBX 3.69 million 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 decreased 2.10% or GBX 0.38 on November 24, hitting GBX 17.5. About 867,353 shares traded hands or 43.29% up from the average. Obtala Ltd (LON:OBT) has risen 112.12% since April 26, 2016 and is uptrending. It has outperformed by 106.71% the S&P500.

Another recent and important Obtala Ltd (LON:OBT) news was published by Fool.Co.Uk which published an article titled: “Obtala Resources Plc’s Growth Is Only Just Getting Started” on June 30, 2015.

Obtala Limited, formerly Obtala Resources Limited, is engaged in the development of agricultural, food processing and timber projects, the holding of mineral resource licenses, projects and investment in other natural resources exploration and development companies and retail. The company has a market cap of 46.07 million GBP. The Firm operates through four divisions: Exploration and development, Agriculture and forestry, Investing activities and Retail. It currently has negative earnings. The Company’s geographic focus is within sub-Saharan Africa, with its projects operational in Tanzania, Mozambique and Lesotho.

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