The stock of Artilium plc (LON:ARTA) gapped up by GBX 0.15 today and has GBX 7.43 target or 8.00% above today’s GBX 6.88 share price. The 8 months technical chart setup indicates low risk for the GBX 21.07 million company. The gap was reported on Nov, 29 by Barchart.com. If the GBX 7.43 price target is reached, the company will be worth GBX 1.69M 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 1.79% or GBX 0.12 on November 29, hitting GBX 6.88. About 1.89M shares traded hands or 290.13% up from the average. Artilium plc (LON:ARTA) has risen 18.42% since May 2, 2016 and is uptrending. It has outperformed by 13.16% the S&P500.
Artilium plc is a United Kingdom-based well-known provider of telecommunication software and solutions. The company has a market cap of 21.07 million GBP. The Company’s divisions include Artilium, United Telecom and Comsys. It currently has negative earnings. The Company’s Artilium provides mobile telecommunications software to network operators and enablers.
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