The stock of goeasy Ltd (TSE:GSY) gapped down by $0.4 today and has $20.62 target or 12.00% below today’s $23.43 share price. The 8 months technical chart setup indicates high risk for the $309.93M company. The gap down was reported on Nov, 4 by Barchart.com. If the $20.62 price target is reached, the company will be worth $37.19M 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 82,969 shares traded hands or 126.30% up from the average. goeasy Ltd (TSE:GSY) has risen 26.68% since March 31, 2016 and is uptrending. It has outperformed by 25.59% the S&P500.
goeasy Ltd (TSE:GSY) Ratings Coverage
Out of 2 analysts covering Argosy Energy Inc. (TSE:GSY), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $30 is the highest target while $27 is the lowest. The $28.50 average target is 21.64% above today’s ($23.43) stock price. Argosy Energy Inc. has been the topic of 2 analyst reports since February 19, 2016 according to StockzIntelligence Inc.
More notable recent goeasy Ltd (TSE:GSY) news were published by: Marketwired.com which released: “goeasy Ltd. Reports Record Performance for the Third Quarter ended September …” on November 03, 2016, also Theglobeandmail.com with their article: “The Globe and Mail” published on August 07, 2009, Reuters.com published: “BRIEF-Goeasy reports record performance for the third quarter” on November 03, 2016. More interesting news about goeasy Ltd (TSE:GSY) were released by: Marketwired.com and their article: “goeasy Ltd. Appoints New Director” published on May 05, 2016 as well as Marketwired.com‘s news article titled: “goeasy Ltd. Announces Timing of Second Quarter 2016 Conference Call and Webcast” with publication date: July 20, 2016.
goeasy Ltd., formerly easyhome Ltd., is a Canada service well-known provider of goods and alternative financial services. The company has a market cap of $309.93 million. The Firm serves clients through two divisions: easyhome and easyfinancial. It has a 10.32 P/E ratio. The Company’s divisions are easyhome and easyfinancial. easyhome offers clients brand-name household furniture, appliances and electronics under weekly or monthly lease agreements. easyhome operates through both corporately owned and franchised stores located across Canada.
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