The stock of Ashley House Plc (LON:ASH) gapped down by GBX 0.125 today and has GBX 6.88 target or 6.00% below today’s GBX 7.32 share price. The 6 months technical chart setup indicates high risk for the GBX 4.29M company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 6.88 price target is reached, the company will be worth GBX 257,400 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 2.33% or GBX 0.18 on November 24, hitting GBX 7.32. About 20,000 shares traded hands. Ashley House Plc (LON:ASH) has declined 20.27% since April 27, 2016 and is downtrending. It has underperformed by 25.68% the S&P500.
Another recent and important Ashley House Plc (LON:ASH) news was published by Law360.com which published an article titled: “Verizon Fends Off Spectrum Grant Challenge At DC Circ.” on November 17, 2016.
Ashley House plc is engaged in the supply of design, construction management and consultancy, primarily working with providers of health and social care on infrastructure developments from project inception to completion of construction and beyond. The company has a market cap of 4.29 million GBP. The Company’s divisions include Extra Care and Health. It has a 17.32 P/E ratio. The Firm is engaged in extra care housing and health property partner services, which allows to work with providers and commissioners in various sectors.
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