What’s Propelling Northern 2 VCT plc to Decline So Much? The Stock Gaps Down Today

 What's Propelling Northern 2 VCT plc to Decline So Much? The Stock Gaps Down Today

The stock of Northern 2 VCT plc (LON:NTV) gapped down by GBX 0.5 today and has GBX 66.53 target or 9.00% below today’s GBX 73.11 share price. The 6 months technical chart setup indicates high risk for the GBX 67.37 million company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 66.53 price target is reached, the company will be worth GBX 6.06M 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 1.20% or GBX 0.89 on November 24, hitting GBX 73.11. About 12,142 shares traded hands or 256.38% up from the average. Northern 2 VCT plc (LON:NTV) has declined 5.66% since April 27, 2016 and is downtrending. It has underperformed by 11.07% the S&P500.

Another recent and important Northern 2 VCT plc (LON:NTV) news was published by Globenewswire.com which published an article titled: “Half-yearly report” on November 14, 2016.

Northern 2 VCT PLC is a venture capital trust . The company has a market cap of 67.37 million GBP. The Company’s objective is to provide high long-term tax-free returns to investors through a combination of dividend yield and capital growth. It has a 6.58 P/E ratio. The Firm invests mainly in unquoted venture capital holdings.

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