Can National Bank of Canada’s Tomorrow be Different? The Stock Just Gapped Up

 Can National Bank of Canada's Tomorrow be Different? The Stock Just Gapped Up

The stock of National Bank of Canada (TSE:NA) gapped up by $0.02 today and has $77.27 target or 69.00% above today’s $45.72 share price. The 9 months technical chart setup indicates low risk for the $15.48B company. The gap was reported on Oct, 18 by Barchart.com. If the $77.27 price target is reached, the company will be worth $10.68B 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%. About 585,040 shares traded hands. National Bank of Canada (TSE:NA) has risen 9.69% since March 11, 2016 and is uptrending. It has outperformed by 4.21% the S&P500.

National Bank of Canada (TSE:NA) Ratings Coverage

Out of 8 analysts covering National Bank Of Canada (TSE:NA), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. $57 is the highest target while $35 is the lowest. The $49.27 average target is 7.76% above today’s ($45.72) stock price. National Bank Of Canada has been the topic of 37 analyst reports since August 12, 2015 according to StockzIntelligence Inc. On Monday, September 19 the stock rating was maintained by TD Securities with “Hold”. The stock of National Bank of Canada (TSE:NA) has “Neutral” rating given on Wednesday, September 21 by Dundee Securities. Scotia Capital maintained it with “Sector Perform” rating and $48 target price in Thursday, August 27 report. RBC Capital Markets maintained it with “Sector Perform” rating and $51 target price in Thursday, December 3 report. RBC Capital Markets upgraded National Bank of Canada (TSE:NA) on Friday, June 3 to “Outperform” rating. The stock has “Hold” rating given by Desjardins Securities on Thursday, September 1. The firm has “Sector Perform” rating given on Tuesday, September 29 by RBC Capital Markets. The stock has “Buy” rating given by Canaccord Genuity on Wednesday, June 8. The stock of National Bank of Canada (TSE:NA) earned “Outperform” rating by Scotia Capital on Thursday, September 1.

More important recent National Bank of Canada (TSE:NA) news were published by: Bloomberg.com which released: “National Bank of Canada Wins North American Panda Bond Race” on September 24, 2016, also Business.Financialpost.com published article titled: “National Bank of Canada joins the ranks of zero coupon issuers, raises €750 …”, Bloomberg.com published: “National Bank of Canada Wins N. American Panda Bond Race” on September 24, 2016. More interesting news about National Bank of Canada (TSE:NA) was released by: Fool.ca and their article: “National Bank of Canada: It’s Time for This Company to Make a Splash” with publication date: September 30, 2016.

National Bank of Canada is an integrated group, which provides financial services to consumers, small- and medium-sized enterprises (SMEs) and large firms in its domestic market and also offers specialized services internationally. The company has a market cap of $15.48 billion.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment