The stock of Summerset Group Holdings Ltd (ASX:SNZ) gapped up by $0.35 today and has $5.13 target or 9.00% above today’s $4.71 share price. The 8 months technical chart setup indicates low risk for the $ company. The gap was reported on Nov, 28 by Barchart.com. If the $5.13 price target is reached, the company will be worth $ 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 8.03% or $0.35 on November 28, hitting $4.71. About 22,528 shares traded hands or 2389.28% up from the average. Summerset Group Holdings Ltd (ASX:SNZ) has risen 31.93% since May 2, 2016 and is uptrending. It has outperformed by 25.92% the S&P500.
Another recent and important Summerset Group Holdings Ltd (ASX:SNZ) news was published by Reuters.com which published an article titled: “BRIEF-Summerset expects FY16 underlying profit to be NZ$53 mln to NZ$55 ml…” on October 27, 2016.
Summerset Group Holdings Limited is a New Zealand company, which is engaged in operating retirement villages and development of villages. The company has a market cap of $. The Firm operates through the provision of integrated retirement villages segment. It currently has negative earnings. The Firm provides a continuum of care.
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