Will AEGON N.V. (ADR) Short Squeeze Soon? The Stock Just Gapped Up
The stock of AEGON N.V. (ADR) (NYSE:AEG) gapped up by $0.09 today and has $7.56 target or 32.00% above today’s $5.73 share price. The 8 months technical chart setup indicates low risk for the $12.24B company. The gap was reported on Mar, 12 by Barchart.com. If the $7.56 price target is reached, the company will be worth $3.92B 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 increased 4.28% or $0.24 during the last trading session, hitting $5.73. About 1.36 million shares traded hands. AEGON N.V. (ADR) (NYSE:AEG) has declined 26.35% since August 6, 2015 and is downtrending. It has underperformed by 23.40% the S&P500.
Out of 1 analysts covering Aegon N.V. (NYSE:AEG), 0 rate it “Buy”, 0 “Sell”, while 1 “Hold”. This means 0% are positive. Aegon N.V. was the topic in 5 analyst reports since August 20, 2015 according to StockzIntelligence Inc.
According to Zacks Investment Research, “Aegon N.V. is an international insurance group which writes life and health insurance and offers related pension, savings and investment products in Europe, North America and the Caribbean. The Company’s other lines of business include property and casualty insurance and financial services.”