The stock of Sabien Technology Group Plc (LON:SNT) gapped down by GBX 0.115 today and has GBX 3.72 target or 4.00% below today’s GBX 3.88 share price. The 8 months technical chart setup indicates high risk for the GBX 2.33 million company. The gap down was reported on Nov, 29 by Barchart.com. If the GBX 3.72 price target is reached, the company will be worth GBX 93,200 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 2.88% or GBX 0.12 on November 29, hitting GBX 3.88. About 25,433 shares traded hands or 607.26% up from the average. Sabien Technology Group Plc (LON:SNT) has declined 25.00% since May 2, 2016 and is downtrending. It has underperformed by 30.26% the S&P500.
Sabien Technology Group Plc is a United Kingdom company, which is engaged in the supply of energy efficiency products. The company has a market cap of 2.33 million GBP. The principal activity of the Company is the design, manufacture and sale of M1G and M2G, which are boiler energy efficiency technologies. It currently has negative earnings. M1G is a direct fired hot water control technology for use on hot water heaters.
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