Challenger Acquisitions Ltd’s Big Gap Down Today Points to More Stock Risks

 Challenger Acquisitions Ltd's Big Gap Down Today Points to More Stock Risks

The stock of Challenger Acquisitions Ltd (LON:CHAL) gapped down by GBX 0.105 today and has GBX 13.01 target or 4.00% below today’s GBX 13.55 share price. The 9 months technical chart setup indicates high risk for the GBX 2.97 million company. The gap down was reported on Nov, 30 by Barchart.com. If the GBX 13.01 price target is reached, the company will be worth GBX 118,800 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 1.45% or GBX 0.2 on November 30, hitting GBX 13.55. About 34,484 shares traded hands. Challenger Acquisitions Ltd (LON:CHAL) has declined 50.23% since May 3, 2016 and is downtrending. It has underperformed by 55.46% the S&P500.

More news for Challenger Acquisitions Ltd (LON:CHAL) were recently published by: Uk.Finance.Yahoo.com, which released: “Challenger Acquisitions Limited (CHAL.L)” on November 11, 2013. Fool.Co.Uk‘s article titled: “Should You Buy Totally Plc, Challenger Acquisitions Ltd & Nostra Terra Oil and …” and published on March 15, 2016 is yet another important article.

Challenger Acquisitions Limited has been formed to undertake acquisitions of target companies in the entertainment and leisure sectors with a particular focus on the attractions sector. The company has a market cap of 2.97 million GBP. The Firm is engaged in engineering and delivering giant observation wheels. It currently has negative earnings. The Company’s divisions include Engineering, Investments and Corporate Center.

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