A Reversal for Scholium Group PLC Is Not Near. The Stock Gaps Down

The stock of Scholium Group PLC (LON:SCHO) gapped down by GBX 2 today and has GBX 29.04 target or 12.00% below today’s GBX 33.00 share price. The 9 months technical chart setup indicates high risk for the GBX 4.49 million company. The gap down was reported on Mar, 24 by Barchart.com. If the GBX 29.04 price target is reached, the company will be worth GBX 538,800 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 13.16% or GBX 5 on March 23, hitting GBX 33. About 11,246 shares traded hands or 458.95% up from the average. Scholium Group PLC (LON:SCHO) has risen 22.81% since August 25, 2015 and is uptrending. It has outperformed by 25.68% the S&P500.

Scholium Group plc is a United Kingdom holding firm of a group of businesses involved in the trading and retailing of rare and collectible goods. The company has a market cap of 4.49 million GBP. The Company’s subsidiary, Shapero Rare Books, trades in rare and antiquarian books and works on paper from Mayfair and through international fine art fairs, and its subsidiary brand, Shapero Modern, trades in modern and contemporary prints. It currently has negative earnings. Shapero Rare Books is focused on natural history, travel and Russian materials, and the dealership has Russian and Jewish departments.

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