Exchange Income Corporation’s Trend Down, Especially After Today’s Gap Down

 Exchange Income Corporation's Trend Down, Especially After Today's Gap Down

The stock of Exchange Income Corporation (TSE:EIF) gapped down by $0.04 today and has $33.02 target or 7.00% below today’s $35.51 share price. The 6 months technical chart setup indicates high risk for the $979.48 million company. The gap down was reported on Nov, 3 by Barchart.com. If the $33.02 price target is reached, the company will be worth $68.56M 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 173,386 shares traded hands or 45.20% up from the average. Exchange Income Corporation (TSE:EIF) has risen 27.79% since March 30, 2016 and is uptrending. It has outperformed by 26.58% the S&P500.

Exchange Income Corporation (TSE:EIF) Ratings Coverage

Out of 7 analysts covering Exchange Income Corporation (TSE:EIF), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. $42 is the highest target while $27 is the lowest. The $36.45 average target is 2.65% above today’s ($35.51) stock price. Exchange Income Corporation has been the topic of 33 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The rating was upgraded by Raymond James to “Outperform” on Wednesday, August 19. As per Friday, August 14, the company rating was maintained by Scotia Capital. The firm earned “Top Pick” rating on Wednesday, June 8 by Laurentian. National Bank Canada maintained Exchange Income Corporation (TSE:EIF) on Thursday, November 26 with “Outperform” rating. TD Securities initiated the stock with “Buy” rating in Thursday, October 29 report. EdgeCrest maintained Exchange Income Corporation (TSE:EIF) on Friday, August 14 with “Strong Buy” rating. RBC Capital Markets initiated the shares of EIF in a report on Friday, August 21 with “Outperform” rating. The firm has “Outperform” rating given on Monday, August 31 by Altacorp. The stock has “Outperform” rating given by Scotia Capital on Wednesday, June 8. The firm earned “Outperform” rating on Friday, August 14 by National Bank Canada.

More news for Exchange Income Corporation (TSE:EIF) were recently published by: Marketwired.com, which released: “Exchange Income Corporation Announces $60000000 Bought Deal Financing of 5.25 …” on May 16, 2016. Business.Financialpost.com‘s article titled: “Exchange Income’s two year redemption window rankles some potential investors” and published on May 17, 2016 is yet another important article.

Exchange Income Corporation is focused on opportunities in two sectors: aviation services and equipment, and manufacturing. The company has a market cap of $979.48 million. The Firm operates through two divisions: Aviation, which provides scheduled airline and charter service and emergency medical services to communities located in Manitoba, Ontario and Nunavut. It has a 20.48 P/E ratio. These services are provided by Calm Air, Perimeter, Keewatin, Bearskin, Custom Helicopters and other aviation supporting businesses.

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