The stock of Countrywide PLC (LON:CWD) gapped down by GBX 6.85 today and has GBX 163.60 target or 5.00% below today’s GBX 172.21 share price. The 5 months technical chart setup indicates high risk for the GBX 374.57 million company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 163.60 price target is reached, the company will be worth GBX 18.73 million 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 11.19% or GBX 21.69 on November 24, hitting GBX 172.21. About 2.99 million shares traded hands or 362.11% up from the average. Countrywide PLC (LON:CWD) has declined 53.68% since April 27, 2016 and is downtrending. It has underperformed by 59.09% the S&P500.
Countrywide PLC (LON:CWD) Ratings Coverage
Out of 10 analysts covering Countrywide Plc (LON:CWD), 1 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 10% are positive. Countrywide Plc has been the topic of 29 analyst reports since July 30, 2015 according to StockzIntelligence Inc. Credit Suisse maintained Countrywide PLC (LON:CWD) on Friday, February 19 with “Neutral” rating. Jefferies maintained Countrywide PLC (LON:CWD) rating on Thursday, November 24. Jefferies has “Hold” rating and GBX 180 price target. The stock has “Neutral” rating given by UBS on Tuesday, September 6. Barclays Capital maintained Countrywide PLC (LON:CWD) rating on Thursday, September 22. Barclays Capital has “Equal Weight” rating and GBX 250.50 price target. On Thursday, November 5 the stock rating was maintained by Credit Suisse with “Neutral”. On Wednesday, October 14 the stock rating was maintained by Citigroup with “Buy”. The stock of Countrywide PLC (LON:CWD) earned “Buy” rating by Jefferies on Tuesday, June 7. The rating was downgraded by Numis Securities on Thursday, July 30 to “Hold”. The firm has “Neutral” rating by UBS given on Friday, November 6. Credit Suisse maintained the shares of CWD in a report on Friday, July 31 with “Neutral” rating.
More recent Countrywide PLC (LON:CWD) news were published by: Bloomberg.com which released: “Countrywide Falls to Lowest Since 2013 as Housing Market Weakens” on November 24, 2016. Also Wsj.com published the news titled: “UK Property-Services Firm Countrywide Offers Fixed-Rate Online Service” on June 06, 2016. Marketwatch.com‘s news article titled: “Countrywide future growth dented by Brexit” with publication date: July 28, 2016 was also an interesting one.
Countrywide plc is a property services company. The company has a market cap of 374.57 million GBP. The Firm provides residential development and consultancy practices, surveying services, conveyancing services, corporate property services, leasehold estate management and auctions. It has a 7.17 P/E ratio. It operates through four divisions: Retail, London, Financial Services and Business to Business .
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