Is Major Move Coming For RapidCloud International PLC After This Gap Down?

 Is Major Move Coming For RapidCloud International PLC After This Gap Down?

The stock of RapidCloud International PLC (LON:RCI) gapped down by GBX 0.5 today and has GBX 11.83 target or 9.00% below today’s GBX 13.00 share price. The 9 months technical chart setup indicates high risk for the GBX 2.73 million company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 11.83 price target is reached, the company will be worth GBX 245,700 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 13.33% or GBX 2 on November 24, hitting GBX 13. About 11,388 shares traded hands. RapidCloud International PLC (LON:RCI) has declined 67.05% since April 27, 2016 and is downtrending. It has underperformed by 72.45% the S&P500.

Another recent and important RapidCloud International PLC (LON:RCI) news was published by Uk.Finance.Yahoo.com which published an article titled: “RapidCloud International plc (RCI.L)” on August 25, 2009.

RapidCloud International Plc is engaged in the provision of software solutions to businesses through Southeast Asia. The company has a market cap of 2.73 million GBP. The Firm provides cloud computing, Web hosting, online business services and professional information technology services to clients within Malaysia and Southeast Asia, through the three types of available cloud computing delivery models, such as Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS) and Infrastructure-as-a-Service (IaaS). It has a 22.85 P/E ratio. The Company’s SaaS distribution model allows users to run existing off-the-shelf online applications through cloud computing.

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