The stock of GYM Group PLC (LON:GYM) gapped down by GBX 0.8 today and has GBX 162.96 target or 4.00% below today’s GBX 169.75 share price. The 5 months technical chart setup indicates high risk for the GBX 217.64M company. The gap down was reported on Nov, 29 by Barchart.com. If the GBX 162.96 price target is reached, the company will be worth GBX 8.71M 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 5.69% or GBX 10.25 on November 29, hitting GBX 169.75. About 306,129 shares traded hands or 611.23% up from the average. GYM Group PLC (LON:GYM) has declined 37.13% since May 2, 2016 and is downtrending. It has underperformed by 42.39% the S&P500.
GYM Group PLC (LON:GYM) Ratings Coverage
Out of 4 analysts covering The Gym Group Plc (LON:GYM), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. The Gym Group Plc has been the topic of 25 analyst reports since December 17, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, September 30 by Berenberg. Numis Securities maintained GYM Group PLC (LON:GYM) on Tuesday, July 5 with “Buy” rating. On Tuesday, March 15 the stock rating was maintained by Numis Securities with “Add”. The company was maintained on Thursday, March 17 by Numis Securities. The stock of GYM Group PLC (LON:GYM) earned “Buy” rating by Peel Hunt on Friday, August 5. As per Wednesday, May 11, the company rating was maintained by Peel Hunt. Peel Hunt maintained GYM Group PLC (LON:GYM) rating on Wednesday, August 31. Peel Hunt has “Buy” rating and GBX 300 price target. The rating was maintained by Peel Hunt on Tuesday, July 5 with “Buy”. Numis Securities maintained it with “Buy” rating and GBX 275 target price in Wednesday, August 31 report. Peel Hunt maintained GYM Group PLC (LON:GYM) rating on Friday, August 12. Peel Hunt has “Buy” rating and GBX 300 price target.
The Gym Group plc, formerly The Gym Group Holdings Limited, provides health and fitness facilities. The company has a market cap of 217.64 million GBP. The Firm offers gym memberships across the United Kingdom. It currently has negative earnings. The Company’s gym is equipped with over 170 equipment stations on an average.
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