The stock of Badger Daylighting Ltd (TSE:BAD) gapped down by $0.04 today and has $26.73 target or 9.00% below today’s $29.37 share price. The 9 months technical chart setup indicates high risk for the $1.09B company. The gap down was reported on Oct, 31 by Barchart.com. If the $26.73 price target is reached, the company will be worth $98.10 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 260,135 shares traded hands or 125.22% up from the average. Badger Daylighting Ltd (TSE:BAD) has risen 33.69% since March 24, 2016 and is uptrending. It has outperformed by 30.22% the S&P500.
More notable recent Badger Daylighting Ltd (TSE:BAD) news were published by: Business.Financialpost.com which released: “Badger Daylighting Ltd upgraded on strong Q2 results” on August 15, 2016, also Theglobeandmail.com with their article: “Badger Daylighting Ltd. should be traded for profit” published on June 22, 2015, Seekingalpha.com published: “Badger Daylighting: Dug-Up Industry Leader Ready To Shine” on June 21, 2016. More interesting news about Badger Daylighting Ltd (TSE:BAD) were released by: Fool.ca and their article: “Why Was Badger Daylighting Ltd. up Over 25% on Friday?” published on November 16, 2015 as well as Marketwired.com‘s news article titled: “Badger Daylighting Ltd. Announces Agreement to Acquire the Operating Assets …” with publication date: October 17, 2013.
Badger Daylighting Ltd. is a well-known provider of non-destructive excavating services. The company has a market cap of $1.09 billion. The Firm works for contractors and facility owners in the utility and petroleum industries. It has a 23.09 P/E ratio. The Firm operates in three divisions: rents and sells various lines of trench shielding used to shore and strengthen trenches dug for a range of purposes; provides sewer inspection services and limited sewer flush services, and provides general vacuum truck and auxiliary services to the gas and oil industry, focusing primarily on production tank cleaning and removal of waste oil and sand.
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