Mercia Technologies PLC Draws Bullish Attention After Its Gap Up Today

 Mercia Technologies PLC Draws Bullish Attention After Its Gap Up Today

The stock of Mercia Technologies PLC (LON:MERC) gapped up by GBX 0.66 today and has GBX 51.45 target or 9.00% above today’s GBX 47.20 share price. The 9 months technical chart setup indicates low risk for the GBX 100.30 million company. The gap was reported on Nov, 29 by Barchart.com. If the GBX 51.45 price target is reached, the company will be worth GBX 9.03M 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 1.51% or GBX 0.7 on November 29, hitting GBX 47.2. About 84,057 shares traded hands or 326.86% up from the average. Mercia Technologies PLC (LON:MERC) has risen 9.41% since May 2, 2016 and is uptrending. It has outperformed by 4.15% the S&P500.

Mercia Technologies PLC is a national investment company. The company has a market cap of 100.30 million GBP. The Firm is also engaged in the technology transfer business. It has a 561.9 P/E ratio. The Company’s investment objective is to generate capital growth for shareholders in the creation, funding, incubation and development of technology businesses with an emphasis on the Midlands and the North of the United Kingdom.

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