Is Selling Tate & Lyle PLC Here a Winning Strategy? The Stock Just Gapped Down

 Is Selling Tate & Lyle PLC Here a Winning Strategy? The Stock Just Gapped Down

The stock of Tate & Lyle PLC (LON:TATE) gapped down by GBX 2.5 today and has GBX 627.29 target or 7.00% below today’s GBX 674.50 share price. The 9 months technical chart setup indicates high risk for the GBX 3.15 billion company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 627.29 price target is reached, the company will be worth GBX 220.50M 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 1.58% or GBX 10.8 on November 24, hitting GBX 674.5. About 3.00M shares traded hands or 14.50% up from the average. Tate & Lyle PLC (LON:TATE) has risen 13.08% since April 28, 2016 and is uptrending. It has outperformed by 7.67% the S&P500.

Tate & Lyle PLC (LON:TATE) Ratings Coverage

Out of 16 analysts covering Tate Lyle PLC (LON:TATE), 5 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 31% are positive. Tate Lyle PLC has been the topic of 142 analyst reports since July 27, 2015 according to StockzIntelligence Inc. On Thursday, July 30 the stock rating was maintained by Deutsche Bank with “Buy”. Citigroup maintained Tate & Lyle PLC (LON:TATE) on Friday, September 4 with “Neutral” rating. As per Wednesday, June 22, the company rating was maintained by Davy Research. UBS maintained the shares of TATE in a report on Friday, February 5 with “Neutral” rating. Liberum Capital maintained it with “Buy” rating and GBX 795 target price in Friday, September 30 report. Numis Securities maintained the shares of TATE in a report on Monday, February 1 with “Hold” rating. The firm has “Hold” rating by Shore Capital given on Thursday, May 26. JP Morgan maintained Tate & Lyle PLC (LON:TATE) rating on Tuesday, October 13. JP Morgan has “Neutral” rating and GBX 650 price target. The rating was maintained by Deutsche Bank with “Buy” on Friday, October 30. As per Thursday, October 8, the company rating was maintained by Davy Research.

More news for Tate & Lyle PLC (LON:TATE) were recently published by: Businesswire.com, which released: “Tate & Lyle PLC UK Regulatory Announcement: Director/PDMR Shareholding” on November 23, 2016. Businesswire.com‘s article titled: “Tate & Lyle PLC UK Regulatory Announcement: Half-year Report” and published on November 03, 2016 is yet another important article.

Tate & Lyle PLC is a provider of ingredients and solutions to the food, beverage and other industries. The company has a market cap of 3.15 billion GBP. The Company’s divisions include Speciality Food Ingredients and Bulk Ingredients. It has a 17.3 P/E ratio. The Speciality Food Ingredients segment’s product categories include dairy, beverage, bakery and convenience.

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