The stock of Arria NLG PLC (LON:NLG) gapped up by GBX 0.25 today and has GBX 16.03 target or 5.00% above today’s GBX 15.27 share price. The 8 months technical chart setup indicates low risk for the GBX 17.31 million company. The gap was reported on Nov, 29 by Barchart.com. If the GBX 16.03 price target is reached, the company will be worth GBX 865,500 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 11.02% or GBX 1.52 on November 29, hitting GBX 15.27. About 29,693 shares traded hands. Arria NLG PLC (LON:NLG) has declined 19.48% since April 29, 2016 and is downtrending. It has underperformed by 24.74% the S&P500.
Arria NLG plc is engaged in software development business. The company has a market cap of 17.31 million GBP. The principal activities of the Company are the development of intellectual property in the form of software and software as a service and the sale of those services to its clients. It currently has negative earnings. The Firm operates through provision of computer software segment.
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