The stock of Symphony Environmental Technologies plc (LON:SYM) gapped up by GBX 0.075 today and has GBX 4.62 target or 7.00% above today’s GBX 4.32 share price. The 7 months technical chart setup indicates low risk for the GBX 6.14 million company. The gap was reported on Nov, 28 by Barchart.com. If the GBX 4.62 price target is reached, the company will be worth GBX 429,800 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 1.76% or GBX 0.07 on November 28, hitting GBX 4.32. About 102,982 shares traded hands or 172.23% up from the average. Symphony Environmental Technologies plc (LON:SYM) has 0.00% since April 28, 2016 and is . It has underperformed by 6.01% the S&P500.
More news for Symphony Environmental Technologies plc (LON:SYM) were recently published by: Plasticsnews.com, which released: “Symphony Environmental defends biodegradable plastics in recycling stream” on September 17, 2014. Plasticsnews.com‘s article titled: “PE suppliers go after oxo-biodegradable technology in Mexico” and published on July 31, 2014 is yet another important article.
Symphony Environmental Technologies plc is engaged in controlled-life plastic and sells both pro-degradant additives and finished plastic products. The company has a market cap of 6.14 million GBP. The Company’s business activities include development and supply of environmental plastic products to a global market, and the development of waste to value projects. It currently has negative earnings. It also supplies other flexible polythene and related products.
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