The stock of Toronto-Dominion Bank (TSE:TD) gapped down by $0.03 today and has $55.66 target or 7.00% below today’s $59.85 share price. The 7 months technical chart setup indicates high risk for the $110.94 billion company. The gap down was reported on Nov, 4 by Barchart.com. If the $55.66 price target is reached, the company will be worth $7.77 billion 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 900,666 shares traded hands. Toronto-Dominion Bank (TSE:TD) has risen 7.71% since March 31, 2016 and is uptrending. It has outperformed by 6.62% the S&P500.
Toronto-Dominion Bank (TSE:TD) Ratings Coverage
Out of 6 analysts covering Toronto-Dominion Bank (TSE:TD), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. Toronto-Dominion Bank has been the topic of 26 analyst reports since August 29, 2015 according to StockzIntelligence Inc. The stock of Toronto-Dominion Bank (TSE:TD) has “Outperform” rating given on Wednesday, November 2 by RBC Capital Markets. The firm has “Buy” rating by Dundee Securities given on Wednesday, September 21. The stock of Toronto-Dominion Bank (TSE:TD) has “Sector Perform” rating given on Tuesday, October 25 by Scotia Capital. The stock of Toronto-Dominion Bank (TSE:TD) has “Outperform” rating given on Tuesday, October 25 by RBC Capital Markets. Canaccord Genuity upgraded the stock to “Buy” rating in Wednesday, December 9 report. RBC Capital Markets maintained Toronto-Dominion Bank (TSE:TD) on Friday, May 27 with “Outperform” rating.
More notable recent Toronto-Dominion Bank (TSE:TD) news were published by: Business.Financialpost.com which released: “Toronto-Dominion Bank raising rates, variable rate mortgage customers to face …” on November 01, 2016, also Bloomberg.com with their article: “TD Ameritrade, TD Bank Said Near $4 Billion Scottrade Deal” published on October 23, 2016, Fool.ca published: “Toronto-Dominion Bank: The Right Time to Buy?” on October 31, 2016. More interesting news about Toronto-Dominion Bank (TSE:TD) were released by: Fool.ca and their article: “Toronto-Dominion Bank Raises Prime: What’s the Bottom Line?” published on November 03, 2016 as well as Stltoday.com‘s news article titled: “TD Ameritrade said to join with Toronto-Dominion Bank to bid for Scottrade” with publication date: October 20, 2016.
The Toronto-Dominion Bank operates as a bank in North America. The company has a market cap of $110.94 billion. The Bank is an online financial services firm, with over 10.2 million online and mobile customers. It has a 13.49 P/E ratio. The Company’s divisions include Canadian Retail, U.S.
TD.TO Company Profile
The Toronto-Dominion Bank (the Bank), incorporated on June 22, 1998, operates as a bank in North America. The Bank is an online financial services firm, with approximately 10.2 million online and mobile customers. The Bank conducts its business through the divisions, which include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial services and products to clients in the Canadian personal and commercial banking businesses. The U.S. Retail segment consists of the Bank’s retail and commercial banking activities operating under the brand TD Bank, and wealth management services in the United States. The Wholesale Banking segment provides a range of capital markets, investment banking, and corporate banking services and products, including underwriting and distribution of new debt and equity issues, providing advice on strategic acquisitions and divestitures, and meeting the daily trading, funding and investment needs of its clients. The Corporate segment includes the impact of treasury and balance sheet management activities.
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