Some Traders Are Very Bullish on Concepta PLC After Today’s Gap Up

 Some Traders Are Very Bullish on Concepta PLC After Today's Gap Up

The stock of Concepta PLC (LON:CPT) gapped up by GBX 0.475 today and has GBX 20.87 target or 7.00% above today’s GBX 19.50 share price. The 5 months technical chart setup indicates low risk for the GBX 21.48M company. The gap was reported on Nov, 28 by Barchart.com. If the GBX 20.87 price target is reached, the company will be worth GBX 1.50 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 5.41% or GBX 1 on November 28, hitting GBX 19.5. About 26,311 shares traded hands. Concepta PLC (LON:CPT) has risen 13.24% since May 2, 2016 and is uptrending. It has outperformed by 7.22% the S&P500.

Concepta PLC, formerly Frontier Resources International Plc, is a healthcare company. The company has a market cap of 21.48 million GBP. The Firm is involved in the development of products and a platform, which targets the personalized mobile health market with a focus on women’s fertility and unexplained infertility. It has a 0.19 P/E ratio. The Company’s portfolio of products includes MyLotus Meter, Ovulation Test, Pregnancy Test and Fertility App.

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