The stock of Bango plc (LON:BGO) gapped down by GBX 0.15 today and has GBX 71.78 target or 3.00% below today’s GBX 74.00 share price. The 5 months technical chart setup indicates high risk for the GBX 48.21M company. The gap down was reported on Nov, 30 by Barchart.com. If the GBX 71.78 price target is reached, the company will be worth GBX 1.45 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 6.33% or GBX 5 on November 30, hitting GBX 74. About 56,207 shares traded hands. Bango plc (LON:BGO) has risen 85.00% since May 3, 2016 and is uptrending. It has outperformed by 79.77% the S&P500.
More news for Bango plc (LON:BGO) were recently published by: Fool.Co.Uk, which released: “Are Vodafone Group plc and Bango plc poised to deliver big gains for investors?” on May 09, 2016. Fool.Co.Uk‘s article titled: “Are Watchstone Group PLC And Bango plc Priced To Buy?” and published on January 05, 2016 is yet another important article.
Bango PLC offers the Bango mobile payment platform. The company has a market cap of 48.21 million GBP. The Company’s principal activity is the development, marketing and sale of technology to enable mobile phone users to make payments for digital content and media on smartphones and tablets. It currently has negative earnings. The Company’s divisions include End user activity and Platform fees.