The stock of Work Group Plc (LON:WORK) gapped up by GBX 0.215 today and has GBX 3.64 target or 6.00% above today’s GBX 3.43 share price. The 7 months technical chart setup indicates low risk for the GBX 858,670 company. The gap was reported on Nov, 24 by Barchart.com. If the GBX 3.64 price target is reached, the company will be worth GBX 51,520 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 14.33% or GBX 0.43 on November 24, hitting GBX 3.43. Work Group Plc (LON:WORK) has risen 9.09% since April 26, 2016 and is uptrending. It has outperformed by 3.68% the S&P500.
Another recent and important Work Group Plc (LON:WORK) news was published by Bloomberg.com which published an article titled: “U.K.’s Fiber Ambitions Stoke Growing Conflict With BT Group” on November 24, 2016.
Work Group plc is a United Kingdom-based investing company. The company has a market cap of 858,670 GBP. The Firm focuses on investing in and/or acquiring business or assets within the support and business services sector. It currently has negative earnings. The Company’s interests in a proposed investment and/or acquisition may range from a minority position to full ownership, and include a single investment or multiple investments.
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