The stock of Begbies Traynor Group plc (LON:BEG) gapped up by GBX 0.55 today and has GBX 52.92 target or 8.00% above today’s GBX 49.00 share price. The 6 months technical chart setup indicates low risk for the GBX 52.01 million company. The gap was reported on Nov, 30 by Barchart.com. If the GBX 52.92 price target is reached, the company will be worth GBX 4.16M 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 closed at GBX 49 during the last session. It is down 13.29% since May 3, 2016 and is uptrending. It has outperformed by 8.07% the S&P500.
Another recent and important Begbies Traynor Group plc (LON:BEG) news was published by Fool.Co.Uk which published an article titled: “Why are Begbies Traynor Group plc, Xcite Energy Limited & Arria NLG plc among …” on June 06, 2016.
Begbies Traynor Group plc is a business recovery and property services consultancy. The company has a market cap of 52.01 million GBP. The Company’s divisions include insolvency and restructuring, and property. It has a 176.26 P/E ratio. It provides services from a network of the United Kingdom locations through two operating divisions: Begbies Traynor and Eddisons.
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