A Reversal for Luxoft Holding Inc Is Not Near. The Stock Gaps Up

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The stock of Luxoft Holding Inc (LXFT) gapped up by $1.94 today and has $98.29 target or 29.00% above today’s $76.19 share price. The 5 months technical chart setup indicates low risk for the $2.35B company. The gap was reported on Nov, 11 by Barchart.com. If the $98.29 price target is reached, the company will be worth $681.50 million 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 is up 8.38% or $5.89 after the news, hitting $76.19 per share. About 379,268 shares traded hands or 64.31% up from the average. Luxoft Holding Inc (NYSE:LXFT) has risen 29.70% since April 9, 2015 and is uptrending. It has outperformed by 30.16% the S&P500.

Out of 3 analysts covering Luxoft Holding (NYSE:LXFT), 2 rate it “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Luxoft Holding was the topic in 4 analyst reports since July 28, 2015 according to StockzIntelligence Inc.

According to Zacks, “Luxoft Holding, Inc. offers software development services and information technology solutions. Its software development services consist of software development and support, product engineering and testing and technology consulting. The Company focuses on six industry verticals: financial services, travel and aviation, technology, telecom, automotive and transport and energy. It operates primarily in Western Europe and North America. Luxoft Holding, Inc. is based in Tortola, Virgin Islands.”

A Reversal for Luxoft Holding Inc Is Not Near. The Stock Gaps Up

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