The stock of Samsung Electronics Co Ltd (ADR) (LON:BC94) gapped up by GBX 7 today and has GBX 783.71 target or 9.00% above today’s GBX 719.00 share price. The 7 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 29 by Barchart.com. If the GBX 783.71 price target is reached, the company will be worth GBX 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 1.99% or GBX 14 on November 29, hitting GBX 719. About 2,012 shares traded hands or 175.24% up from the average. Samsung Electronics Co Ltd (ADR) (LON:BC94) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
More notable recent Samsung Electronics Co Ltd (ADR) (LON:BC94) news were published by: Learnbonds.com which released: “Samsung Electronics Co Ltd (ADR) (OTCMKTS:SSNLF) Battered by Pixel” on October 06, 2016, also Learnbonds.com with their article: “Samsung Electronics Co Ltd (SSNLF) Aims at Ending TiVo Battles” published on November 16, 2016, Learnbonds.com published: “Samsung Electronics Co Ltd (SSNLF) is Apple’s Sole 2017 OLED Supplier” on November 18, 2016. More interesting news about Samsung Electronics Co Ltd (ADR) (LON:BC94) were released by: Learnbonds.com and their article: “Could Samsung Electronics Co Ltd (SSNLF) Face Same Fate as BlackBerry?” published on April 15, 2016 as well as Businessinsider.com‘s news article titled: “If You’re A Fair-Weather Apple Investor Who Is Eyeing Samsung, There’s …” with publication date: January 24, 2013.
Samsung Electronics Co., Ltd. is mainly engaged in the production of consumer electronic products. The company has a market cap of GBP. It operates in three business divisions: consumer electronics division, which involves in the color televisions (CTVs), monitors, printers, air conditioners, refrigerators, laundry machines and others; information technology & mobile communications (IM) division, which involves in the production of computers, handhold phones (HHPs), network systems, digital cameras and others, as well as device solutions (DM) division, which is divided into semiconductor and display business parts, providing dynamic random access memories (DRAMs), flashes, thin film transistor-liquid crystal displays (TFT-LCDs) and others. It currently has negative earnings. The Firm distributes its products within domestic market and to overseas markets.
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