How Analysts Feel About AutoCanada Inc. After Today’s Gap Down?

 How Analysts Feel About AutoCanada Inc. After Today's Gap Down?

The stock of AutoCanada Inc. (TSE:ACQ) gapped down by $0.1 today and has $20.52 target or 9.00% below today’s $22.55 share price. The 9 months technical chart setup indicates high risk for the $615.92M company. The gap down was reported on Oct, 28 by If the $20.52 price target is reached, the company will be worth $55.43 million 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%. About 143,053 shares traded hands or 118.05% up from the average. AutoCanada Inc. (TSE:ACQ) has risen 47.28% since March 23, 2016 and is uptrending. It has outperformed by 42.56% the S&P500.

AutoCanada Inc. (TSE:ACQ) Ratings Coverage

Out of 5 analysts covering Autocanada (TSE:ACQ), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $46 is the highest target while $23 is the lowest. The $31.40 average target is 39.25% above today’s ($22.55) stock price. Autocanada has been the topic of 18 analyst reports since July 24, 2015 according to StockzIntelligence Inc. As per Tuesday, June 28, the company rating was initiated by GMP Securities. The stock of AutoCanada Inc. (TSE:ACQ) has “Sector Perform” rating given on Wednesday, September 21 by Scotia Capital. Canaccord Genuity maintained the shares of ACQ in a report on Monday, August 10 with “Hold” rating. Scotia Capital maintained AutoCanada Inc. (TSE:ACQ) rating on Wednesday, August 5. Scotia Capital has “Sector Perform” rating and $44 price target.

More news for AutoCanada Inc. (TSE:ACQ) were recently published by:, which released: “It’s Time To Take A Closer Look At AutoCanada” on March 29, 2016.‘s article titled: “AutoCanada: Is It Time To Buy Again? (AOCIF)” and published on December 01, 2014 is yet another important article.

AutoCanada Inc. is a Canada multi-location automobile dealership company. The company has a market cap of $615.92 million. The Firm offers a diversified range of automotive services and products, including new vehicles, used vehicles, vehicle leasing, vehicle parts, vehicle maintenance and collision repair services, extended service contracts, vehicle protection products and other after-market products. It has a 23.41 P/E ratio. The Firm also arranges financing and insurance for vehicle purchases by its clients through third-party finance and insurance sources.

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