The stock of Paragon Group of Companies PLC (LON:PAG) gapped down by GBX 3 today and has GBX 317.05 target or 9.00% below today’s GBX 348.41 share price. The 8 months technical chart setup indicates high risk for the GBX 985.06M company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 317.05 price target is reached, the company will be worth GBX 88.66M 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 5.96% or GBX 22.09 on November 24, hitting GBX 348.41. About 1.26M shares traded hands or 88.14% up from the average. Paragon Group of Companies PLC (LON:PAG) has risen 13.27% since April 28, 2016 and is uptrending. It has outperformed by 7.86% the S&P500.
Paragon Group of Companies PLC (LON:PAG) Ratings Coverage
Out of 11 analysts covering Paragon Group of Companies The PLC (LON:PAG), 7 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 64% are positive. Paragon Group of Companies The PLC has been the topic of 75 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of Paragon Group of Companies PLC (LON:PAG) has “Overweight” rating given on Wednesday, November 11 by Barclays Capital. Barclays Capital maintained the stock with “Equal Weight” rating in Tuesday, August 16 report. The stock of Paragon Group of Companies PLC (LON:PAG) has “Sell” rating given on Wednesday, July 29 by Numis Securities. On Tuesday, November 24 the stock rating was maintained by Shore Capital with “Buy”. Peel Hunt maintained the stock with “Buy” rating in Friday, October 21 report. The stock of Paragon Group of Companies PLC (LON:PAG) earned “Hold” rating by Numis Securities on Tuesday, November 24. The firm has “Buy” rating given on Monday, August 1 by Liberum Capital. The rating was maintained by Jefferies on Wednesday, July 13 with “Buy”. The firm has “Overweight” rating given on Thursday, September 17 by Barclays Capital. The stock has “Buy” rating given by Numis Securities on Tuesday, May 24.
The Paragon Group of Companies PLC is engaged in specialist financial services business. The company has a market cap of 985.06 million GBP. The Firm operates as an independent buy-to-let lender, and as a debt purchaser through its Idem Capital division, where it purchases, co-manages and services secured and unsecured consumer loan portfolios. It has a 9.25 P/E ratio. The Company’s operating divisions include Paragon Mortgages, Idem Capital and Paragon Bank.
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