The stock of Versarien PLC (LON:VRS) gapped down by GBX 0.5 today and has GBX 10.69 target or 9.00% below today’s GBX 11.75 share price. The 8 months technical chart setup indicates high risk for the GBX 14.08 million company. The gap down was reported on Nov, 29 by Barchart.com. If the GBX 10.69 price target is reached, the company will be worth GBX 1.27 million 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 6.00% or GBX 0.75 on November 29, hitting GBX 11.75. About 112,433 shares traded hands. Versarien PLC (LON:VRS) has declined 11.11% since April 29, 2016 and is downtrending. It has underperformed by 16.37% the S&P500.
Versarien PLC (LON:VRS) Ratings Coverage
Out of 2 analysts covering Versarien (LON:VRS), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Versarien has been the topic of 2 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was upgraded on Tuesday, July 21 by Panmure Gordon. WH Ireland maintained the shares of VRS in a report on Thursday, December 10 with “Buy” rating.
Versarien plc is engaged in offering engineering solutions. The company has a market cap of 14.08 million GBP. The Firm operates through three divisions: Hard Wear Products, Graphene Products and Thermal Products. It currently has negative earnings. The Thermal Products segment develops, makes and supplies heat sinks and other products made from porous copper and aluminum.
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