The stock of Brighton Pier Group PLC (LON:PIER) gapped up by GBX 1.4 today and has GBX 115.44 target or 4.00% above today’s GBX 111.00 share price. The 7 months technical chart setup indicates low risk for the GBX 35.89 million company. The gap was reported on Nov, 29 by Barchart.com. If the GBX 115.44 price target is reached, the company will be worth GBX 1.44 million 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 decreased 3.90% or GBX 4.5 on November 29, hitting GBX 111. About 4,005 shares traded hands or 7.17% up from the average. Brighton Pier Group PLC (LON:PIER) has risen 15.50% since April 29, 2016 and is uptrending. It has outperformed by 10.24% the S&P500.
Another recent and important Brighton Pier Group PLC (LON:PIER) news was published by Ft.com which published an article titled: “Noble Group puts Brighton Pier up for sale” on June 30, 2011.
The Brighton Pier Group PLC, formerly Eclectic Bar Group PLC, owns and trades Brighton Palace Pier together with approximately 20 bars trading in towns and cities across the United Kingdom. The company has a market cap of 35.89 million GBP. The Company’s divisions include Owned Bars and Brighton Palace Pier. It has a 37000 P/E ratio. It operates through two divisions: Bars division and Pier division.
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