Is Major Move Coming For Firm Capital Mortgage Investment Corp After This Gap Down?

 Is Major Move Coming For Firm Capital Mortgage Investment Corp After This Gap Down?

The stock of Firm Capital Mortgage Investment Corp (TSE:FC) gapped down by $0.01 today and has $12.18 target or 11.00% below today’s $13.69 share price. The 7 months technical chart setup indicates high risk for the $305.91 million company. The gap down was reported on Nov, 4 by Barchart.com. If the $12.18 price target is reached, the company will be worth $33.65 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 21,013 shares traded hands. Firm Capital Mortgage Investment Corp (TSE:FC) has risen 6.27% since March 31, 2016 and is uptrending. It has outperformed by 5.18% the S&P500.

Another recent and important Firm Capital Mortgage Investment Corp (TSE:FC) news was published by Marketwired.com which published an article titled: “Firm Capital Mortgage Investment Corporation Announces $22 Million Bought Deal …” on March 30, 2016.

Firm Capital Mortgage Investment Corporation is a Canada mortgage investment company. The company has a market cap of $305.91 million. The Firm is a non-bank lender that finances a range of properties, which include residential houses, small multi-family residential properties consisting of approximately six units, residential apartment buildings, mixed-use residential apartments and store-front properties, investment properties, land and development sites, and development and construction projects. It has a 12.95 P/E ratio. It also invests in all forms of short-term bridge financing for residential and commercial real estate for owners and developers.

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