The stock of Sierra Rutile Ltd (LON:SRX) gapped down by GBX 5.1 today and has GBX 27.37 target or 8.00% below today’s GBX 29.75 share price. The 7 months technical chart setup indicates high risk for the GBX 181.29 million company. The gap down was reported on Nov, 29 by Barchart.com. If the GBX 27.37 price target is reached, the company will be worth GBX 14.50 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 16.78% or GBX 6 on November 29, hitting GBX 29.75. About 94,789 shares traded hands or 202.78% up from the average. Sierra Rutile Ltd (LON:SRX) has risen 29.12% since April 29, 2016 and is uptrending. It has outperformed by 23.86% the S&P500.
Sierra Rutile Ltd (LON:SRX) Ratings Coverage
Out of 4 analysts covering Sierra Rutile Ltd (LON:SRX), 2 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 50% are positive. Sierra Rutile Ltd has been the topic of 23 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Beaufort Securities maintained the stock with “Speculative Buy” rating in Monday, January 18 report. The stock of Sierra Rutile Ltd (LON:SRX) has “Buy” rating given on Tuesday, July 19 by Investec. The firm has “Underperform” rating given on Monday, November 23 by Macquarie Research. Beaufort Securities maintained it with “Buy” rating and GBX 40 target price in Friday, July 15 report. The stock of Sierra Rutile Ltd (LON:SRX) has “Buy” rating given on Monday, August 10 by Investec. The company was maintained on Thursday, August 27 by Investec. The rating was upgraded by Beaufort Securities on Friday, October 9 to “Speculative Buy”. On Wednesday, January 20 the stock rating was maintained by Investec with “Buy”. The firm earned “Buy” rating on Tuesday, November 17 by Investec. Investec maintained the shares of SRX in a report on Friday, October 30 with “Buy” rating.
Another recent and important Sierra Rutile Ltd (LON:SRX) news was published by Ft.com which published an article titled: “CompaniesIluka Resources in advanced takeover talks with Sierra Rutile” on July 29, 2016.
Sierra Rutile Limited is a producer of mineral sands. The company has a market cap of 181.29 million GBP. The Company’s principal activity is exploring, producing and marketing natural rutile and related by-products from its assets in Sierra Leone. It currently has negative earnings. The Firm operates through the segment of production, refining and sale of rutile.
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