The stock of Premier Veterinary Group PLC (LON:PVG) gapped down by GBX 1.25 today and has GBX 105.28 target or 6.00% below today’s GBX 112.00 share price. The 5 months technical chart setup indicates high risk for the GBX 17.11 million company. The gap down was reported on Nov, 30 by Barchart.com. If the GBX 105.28 price target is reached, the company will be worth GBX 1.03M 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 11.46% or GBX 14.5 on November 30, hitting GBX 112. About 30,955 shares traded hands or 1729.49% up from the average. Premier Veterinary Group PLC (LON:PVG) has risen 0.86% since May 3, 2016 and is uptrending. It has underperformed by 4.37% the S&P500.
Another recent and important Premier Veterinary Group PLC (LON:PVG) news was published by Prnewswire.com which published an article titled: “Novogen Appoints Iain Ross as Acting CEO and Re-appoints Him to the Board” on July 22, 2015.
Premier Veterinary Group plc, formerly Ark Therapeutics Group plc, operates various veterinary practices and provides non-medical services to other veterinary practices. The company has a market cap of 17.11 million GBP. The Firm operates through divisions, including Vets Business, Buying Group, Pet Care Plan and Pet Care Plan overseas. It currently has negative earnings. The Vets Business segment is engaged in day to day running of veterinary practices.
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