The stock of Pantheon Resources Plc (LON:PANR) gapped down by GBX 14 today and has GBX 66.27 target or 6.00% below today’s GBX 70.50 share price. The 7 months technical chart setup indicates high risk for the GBX 151.55 million company. The gap down was reported on Nov, 29 by Barchart.com. If the GBX 66.27 price target is reached, the company will be worth GBX 9.09 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 22.53% or GBX 20.5 on November 29, hitting GBX 70.5. About 8.21 million shares traded hands or 546.46% up from the average. Pantheon Resources Plc (LON:PANR) has declined 50.70% since April 29, 2016 and is downtrending. It has underperformed by 55.96% the S&P500.
Pantheon Resources Plc (LON:PANR) Ratings Coverage
Out of 2 analysts covering Pantheon Resources (LON:PANR), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Pantheon Resources has been the topic of 6 analyst reports since November 13, 2015 according to StockzIntelligence Inc. The rating was maintained by Panmure Gordon on Thursday, March 10 with “Buy”. Panmure Gordon maintained the shares of PANR in a report on Wednesday, July 13 with “Buy” rating. As per Friday, November 13, the company rating was maintained by WH Ireland. The rating was maintained by Panmure Gordon with “Buy” on Thursday, April 21. The stock of Pantheon Resources Plc (LON:PANR) has “Buy” rating given on Thursday, December 3 by WH Ireland.
More news for Pantheon Resources Plc (LON:PANR) were recently published by: Fool.Co.Uk, which released: “As Oil Crashes, Is It Time To Buy Pantheon Resources Plc, Ithaca Energy Inc …” on January 12, 2016. Fool.Co.Uk‘s article titled: “Can Pantheon Resources plc (+680%), Trans-Siberian Gold plc (+245%) and …” and published on June 08, 2016 is yet another important article.
Pantheon Resources Plc is a United Kingdom gas and oil exploration and production company. The company has a market cap of 151.55 million GBP. The Firm is engaged in investment in gas and oil exploration and development, and operates in the United Kingdom and in the United States. It currently has negative earnings. The Firm operates through two divisions: USA and Head Office.
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