The stock of Frenkel Topping Group Plc (LON:FEN) gapped down by GBX 0.75 today and has GBX 47.50 target or 5.00% below today’s GBX 50.00 share price. The 6 months technical chart setup indicates high risk for the GBX 38.31M company. The gap down was reported on Nov, 30 by Barchart.com. If the GBX 47.50 price target is reached, the company will be worth GBX 1.92M 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 3.38% or GBX 1.75 on November 30, hitting GBX 50. About 12,200 shares traded hands. Frenkel Topping Group Plc (LON:FEN) has 0.00% since May 3, 2016 and is . It has underperformed by 5.23% the S&P500.
Frenkel Topping Group Plc is a United Kingdom firm engaged in the provision of financial services advice. The company has a market cap of 38.31 million GBP. The Company, along with its subsidiaries, is engaged in providing independent financial advice and investment management services to personal injury and clinical negligence victims. It has a 42.52 P/E ratio. It offers independent financial advice for individuals in later life, as well as those under the supervision of the Court of Protection.
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