Time to Buy Global Real Estate Dividend Growers Corp After Today’s Gap Up?

 Time to Buy Global Real Estate Dividend Growers Corp After Today's Gap Up?

The stock of Global Real Estate Dividend Growers Corp (TSE:GRL) gapped up by $0.01 today and has $19.83 target or 147.00% above today’s $8.03 share price. The 9 months technical chart setup indicates low risk for the $86.06 million company. The gap was reported on Oct, 31 by Barchart.com. If the $19.83 price target is reached, the company will be worth $126.51M 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 32,220 shares traded hands or 95.47% up from the average. Global Real Estate Dividend Growers Corp (TSE:GRL) has declined 2.70% since March 24, 2016 and is downtrending. It has underperformed by 6.17% the S&P500.

Global Real Estate Dividend Growers Corp. is a non-redeemable investment fund. The company has a market cap of $86.06 million. The investment objectives of the Fund are to provide equity shareholders with stable monthly cash distributions and to grow distributions over time, and enhanced long-term total return through capital appreciation of the Fund’s investment portfolio. It currently has negative earnings. The Fund focuses primarily on investing in securities of issuers operating in the global real estate sector and related industries and that have exhibited sustainable dividend growth.

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