The stock of Gear4music Holdings PLC (LON:G4M) gapped down by GBX 0.5 today and has GBX 387.81 target or 7.00% below today’s GBX 417.00 share price. The 9 months technical chart setup indicates high risk for the GBX 84.44 million company. The gap down was reported on Nov, 30 by Barchart.com. If the GBX 387.81 price target is reached, the company will be worth GBX 5.91M 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 2.46% or GBX 10.5 on November 30, hitting GBX 417. About 178,013 shares traded hands. Gear4music Holdings PLC (LON:G4M) has risen 216.79% since May 3, 2016 and is uptrending. It has outperformed by 211.57% the S&P500.
Gear4music plc is engaged in the online retailing of musical instruments and equipment. The company has a market cap of 84.44 million GBP. The Firm sells its own-brand musical instruments and music equipment alongside with other brands. It has a 40.87 P/E ratio. The Firm offers over 1,500 products, which are sold under approximately eight brands, including Gear4music; Archer, which offers string instruments, such as violins, cellos, violas and double bass; Redsub, which offers bass guitar amplifiers and pedals; SubZero, which offers guitars, amplifiers, mixers, speakers and audio electronics; Minster, which offers digital pianos; Rosedale, which offers woodwind instruments, such as clarinets, flutes, oboes and piccolos, and Brass Instruments, which offers trumpets, trombones, tubas and French horns.
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