The stock of Aberdeen Asset Management plc (LON:ADN) gapped down by GBX 2.5 today and has GBX 243.68 target or 9.00% below today’s GBX 267.78 share price. The 5 months technical chart setup indicates high risk for the GBX 3.53B company. The gap down was reported on Nov, 29 by Barchart.com. If the GBX 243.68 price target is reached, the company will be worth GBX 317.70M 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 2.55% or GBX 7.02 on November 29, hitting GBX 267.78. About 8.97 million shares traded hands or 107.16% up from the average. Aberdeen Asset Management plc (LON:ADN) has declined 3.22% since May 3, 2016 and is downtrending. It has underperformed by 8.48% the S&P500.
Aberdeen Asset Management plc (LON:ADN) Ratings Coverage
Out of 21 analysts covering Aberdeen Asset Management PLC (LON:ADN), 2 rate it a “Buy”, 9 “Sell”, while 10 “Hold”. This means 10% are positive. Aberdeen Asset Management PLC has been the topic of 132 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Monday, November 23 by J.P. Morgan. The stock has “Hold” rating given by Numis Securities on Tuesday, May 3. Numis Securities maintained Aberdeen Asset Management plc (LON:ADN) rating on Friday, February 5. Numis Securities has “Buy” rating and GBX 285 price target. The stock has “Underperform” rating given by BNP Paribas on Thursday, January 28. The stock of Aberdeen Asset Management plc (LON:ADN) earned “Equal Weight” rating by Barclays Capital on Wednesday, November 11. BNP Paribas maintained Aberdeen Asset Management plc (LON:ADN) on Wednesday, May 4 with “Underperform” rating. Goldman Sachs maintained the stock with “Neutral” rating in Tuesday, September 29 report. The rating was maintained by BNP Paribas with “Underperform” on Thursday, November 19. As per Thursday, July 21, the company rating was maintained by Barclays Capital. The stock of Aberdeen Asset Management plc (LON:ADN) earned “Neutral” rating by Goldman Sachs on Monday, July 4.
Aberdeen Asset Management PLC is a United Kingdom global asset management firm engaged in the active management of financial assets. The company has a market cap of 3.53 billion GBP. It manages assets for both institutional and retail clients. It has a 16.25 P/E ratio. The Company’s institutional clients include pension funds, corporates, sovereign wealth funds, government agencies and insurance companies.
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