Wolseley plc Draws Bullish Attention After Its Gap Up Today

 Wolseley plc Draws Bullish Attention After Its Gap Up Today

The stock of Wolseley plc (LON:WOS) gapped up by GBX 50 today and has GBX 4839.87 target or 3.00% above today’s GBX 4698.90 share price. The 9 months technical chart setup indicates low risk for the GBX 11.87 billion company. The gap was reported on Nov, 24 by Barchart.com. If the GBX 4839.87 price target is reached, the company will be worth GBX 356.10M 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 decreased 0.02% or GBX 1.1 on November 24, hitting GBX 4698.9. About 578,953 shares traded hands. Wolseley plc (LON:WOS) has risen 20.20% since April 28, 2016 and is uptrending. It has outperformed by 14.80% the S&P500.

Wolseley plc (LON:WOS) Ratings Coverage

Out of 26 analysts covering Wolseley (LON:WOS), 12 rate it a “Buy”, 2 “Sell”, while 12 “Hold”. This means 46% are positive. Wolseley has been the topic of 161 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Wednesday, March 23, the company rating was maintained by Beaufort Securities. The rating was maintained by Liberum Capital on Thursday, July 14 with “Buy”. As per Monday, November 16, the company rating was maintained by Numis Securities. BNP Paribas maintained Wolseley plc (LON:WOS) on Thursday, June 30 with “Underperform” rating. The firm has “Buy” rating given on Friday, March 11 by Canaccord Genuity. The stock of Wolseley plc (LON:WOS) earned “Overweight” rating by JP Morgan on Wednesday, November 11. The stock has “Hold” rating given by Numis Securities on Wednesday, March 23. Barclays Capital maintained it with “Overweight” rating and GBX 4400 target price in Monday, July 11 report. On Wednesday, March 23 the stock rating was maintained by Jefferies with “Buy”. The stock has “Buy” rating given by Citigroup on Monday, August 17.

Another recent and important Wolseley plc (LON:WOS) news was published by Marketwatch.com which published an article titled: “Wolseley shares drop 4.1% after financial results” on May 28, 2009.

Wolseley plc is the holding company of the Wolseley Group of companies. The company has a market cap of 11.87 billion GBP. The Firm is engaged in the distribution of plumbing and heating products and building materials. It has a 23.74 P/E ratio. The Company’s divisions include USA, UK, Nordic, and Canada and Central Europe.

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