The stock of Colliers International Group Inc (TSE:CIG) gapped down by $2.88 today and has $45.90 target or 5.00% below today’s $48.32 share price. The 8 months technical chart setup indicates high risk for the $1.77 billion company. The gap down was reported on Oct, 28 by Barchart.com. If the $45.90 price target is reached, the company will be worth $88.50 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 230,377 shares traded hands or 346.37% up from the average. Colliers International Group Inc (TSE:CIG) has risen 14.20% since March 23, 2016 and is uptrending. It has outperformed by 9.49% the S&P500.
Colliers International Group Inc (TSE:CIG) Ratings Coverage
Out of 3 analysts covering Colliers International (TSE:CIG), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. $72 is the highest target while $45 is the lowest. The $57 average target is 17.96% above today’s ($48.32) stock price. Colliers International has been the topic of 7 analyst reports since August 6, 2015 according to StockzIntelligence Inc.
Another recent and important Colliers International Group Inc (TSE:CIG) news was published by Rejournals.com which published an article titled: “Colliers International Group Inc. acquires Colliers International West Michigan” on July 07, 2016.
Colliers International Group Inc. is engaged in the provision of commercial real estate services. The company has a market cap of $1.77 billion. The Company’s primary services are outsourcing and advisory services, lease brokerage and sales brokerage. It has a 24.75 P/E ratio. The Company’s divisions include Americas; Europe, Middle East and Africa ; Asia Pacific, and Corporate.
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