The stock of Berkeley Energia Ltd (LON:BKY) gapped up by GBX 0.447 today and has GBX 48.36 target or 3.00% above today’s GBX 46.95 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 48.36 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 6.10% or GBX 2.7 on November 28, hitting GBX 46.95. About 428,521 shares traded hands. Berkeley Energia Ltd (LON:BKY) has risen 60.34% since April 28, 2016 and is uptrending. It has outperformed by 54.33% the S&P500.
Berkeley Energia Ltd (LON:BKY) Ratings Coverage
Out of 7 analysts covering Berkeley Resources Ltd (LON:BKY), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Berkeley Resources Ltd has been the topic of 16 analyst reports since October 8, 2015 according to StockzIntelligence Inc. On Tuesday, July 26 the stock rating was maintained by FinnCap with “Buy”. On Wednesday, November 4 the stock rating was maintained by Numis Securities with “Buy”. On Wednesday, January 27 the stock rating was maintained by WH Ireland with “Buy”. Numis Securities maintained Berkeley Energia Ltd (LON:BKY) on Thursday, October 8 with “Buy” rating. Numis Securities maintained Berkeley Energia Ltd (LON:BKY) on Friday, November 25 with “Buy” rating. Numis Securities maintained Berkeley Energia Ltd (LON:BKY) on Friday, June 10 with “Buy” rating. The firm earned “Buy” rating on Monday, November 30 by UBS. The firm earned “Buy” rating on Tuesday, September 20 by Liberum Capital. Numis Securities maintained it with “Buy” rating and GBX 100 target price in Wednesday, March 9 report. WH Ireland maintained the shares of BKY in a report on Tuesday, September 20 with “Buy” rating.
Berkeley Energia Limited, formerly Berkeley Energy Limited, is engaged in mineral exploration and development. The company has a market cap of GBP. The Firm is focused on developing Europe’s uranium project, the Salamanca mine. It currently has negative earnings.
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