Is Major Move Coming For Thomas Cook Group plc After This Gap Up?

 Is Major Move Coming For Thomas Cook Group plc After This Gap Up?

The stock of Thomas Cook Group plc (LON:TCG) gapped up by GBX 1.958 today and has GBX 83.67 target or 3.00% above today’s GBX 81.23 share price. The 9 months technical chart setup indicates low risk for the GBX 1.25 billion company. The gap was reported on Nov, 24 by Barchart.com. If the GBX 83.67 price target is reached, the company will be worth GBX 37.50 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 increased 2.82% or GBX 2.23 on November 24, hitting GBX 81.23. About 17.54M shares traded hands or 272.40% up from the average. Thomas Cook Group plc (LON:TCG) has declined 11.10% since April 28, 2016 and is downtrending. It has underperformed by 16.51% the S&P500.

Thomas Cook Group plc (LON:TCG) Ratings Coverage

Out of 16 analysts covering Thomas Cook Group PLC (LON:TCG), 7 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 44% are positive. Thomas Cook Group PLC has been the topic of 77 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Tuesday, September 27 by Numis Securities. AlphaValue upgraded the shares of TCG in a report on Friday, November 6 to “Buy” rating. As per Thursday, August 6, the company rating was maintained by AlphaValue. As per Thursday, July 23, the company rating was maintained by AlphaValue. The firm earned “Buy” rating on Thursday, November 19 by Stifel Nicolaus. Jefferies maintained it with “Buy” rating and GBX 145 target price in Thursday, September 24 report. The rating was maintained by Barclays Capital with “Equal Weight” on Monday, October 12. JP Morgan maintained Thomas Cook Group plc (LON:TCG) rating on Thursday, January 14. JP Morgan has “Overweight” rating and GBX 170 price target. The firm has “Neutral” rating given on Wednesday, September 28 by JP Morgan. The stock of Thomas Cook Group plc (LON:TCG) earned “Overweight” rating by JP Morgan on Wednesday, March 23.

More notable recent Thomas Cook Group plc (LON:TCG) news were published by: Bloomberg.com which released: “Thomas Cook Lowers Profit Forecast as Attacks Sap Travel Demand” on July 28, 2016, also Moodys.com with their article: “Moody’s assigns first-time B1 rating to Thomas Cook Group Plc; stable outlook” published on May 18, 2016, Uk.Finance.Yahoo.com published: “Thomas Cook Group plc (TCG.L)” on March 29, 2014. More interesting news about Thomas Cook Group plc (LON:TCG) were released by: Fool.Co.Uk and their article: “Will Thomas Cook Group plc outperform easyJet plc and International …” published on September 27, 2016 as well as Fool.Co.Uk‘s news article titled: “Are Thomas Cook Group plc, easyJet plc and International Consolidated Airlns …” with publication date: May 19, 2016.

Thomas Cook Group plc is a United Kingdom leisure travel group. The company has a market cap of 1.25 billion GBP. The Firm operates through four divisions: UK, Continental Europe, Northern Europe and Airlines Germany. It has a 21.68 P/E ratio. The Firm offer its services in supplying of hotel beds and airline seats, production and marketing of travel packages, components and ancillaries, omni-channel distribution, customer value and shareholder value.

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