Bearish Gap Down for Mirada Plc. After Worse Fundamentals

 Bearish Gap Down for Mirada Plc. After Worse Fundamentals

The stock of Mirada Plc. (LON:MIRA) gapped down by GBX 0.002 today and has GBX 3.67 target or 9.00% below today’s GBX 4.03 share price. The 8 months technical chart setup indicates high risk for the GBX 5.71M company. The gap down was reported on Nov, 29 by Barchart.com. If the GBX 3.67 price target is reached, the company will be worth GBX 513,900 less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 10.56% or GBX 0.47 on November 29, hitting GBX 4.03. About 296,580 shares traded hands or 306.69% up from the average. Mirada Plc. (LON:MIRA) has declined 8.33% since May 2, 2016 and is downtrending. It has underperformed by 13.59% the S&P500.

Another recent and important Mirada Plc. (LON:MIRA) news was published by Prnewswire.com which published an article titled: “BTG and MIRADA Collaborate to Develop Dosimetry Software Solutions to Optimise …” on October 12, 2015.

Mirada plc is engaged in the provision and support of services and products in the digital television and broadcast markets. The company has a market cap of 5.71 million GBP. The Firm operates through the divisions, including Digital TV & Broadcast and Mobile. It currently has negative earnings. The Firm offers software for digital television platforms.

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