The stock of SOURCE PHYSICAL MARKETS PLC SOURCE PHYSICAL PALLADIUM P-ETC (LON:SPAL) gapped up by GBX 0.42 today and has GBX 80.99 target or 9.00% above today’s GBX 74.30 share price. The 6 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 28 by Barchart.com. If the GBX 80.99 price target is reached, the company will be worth GBX 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 2.54% or GBX 1.84 on November 28, hitting GBX 74.3. About 32,618 shares traded hands or 393.61% up from the average. SOURCE PHYSICAL MARKETS PLC SOURCE PHYSICAL PALLADIUM P-ETC (LON:SPAL) has risen 42.56% since April 20, 2016 and is uptrending. It has outperformed by 36.54% the S&P500.
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