The stock of Life & Banc Split Corp. (TSE:LBS) gapped down by $0.01 today and has $7.28 target or 10.00% below today’s $8.09 share price. The 7 months technical chart setup indicates high risk for the $149.37 million company. The gap down was reported on Nov, 4 by Barchart.com. If the $7.28 price target is reached, the company will be worth $14.94 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 12,935 shares traded hands. Life & Banc Split Corp. (TSE:LBS) has risen 2.91% since March 31, 2016 and is uptrending. It has outperformed by 1.82% the S&P500.
More notable recent Life & Banc Split Corp. (TSE:LBS) news were published by: Marketwired.com which released: “Life & Banc Split Corp. Announces Treasury Offering” on March 20, 2015, also Marketwatch.com with their article: “Brompton Funds Declare Distributions” published on October 20, 2016, Marketwired.com published: “Brompton Funds Provides Analysis of Rate Reset Preferred Shares” on March 30, 2016. More interesting news about Life & Banc Split Corp. (TSE:LBS) were released by: Wsj.com and their article: “Japan’s Central Bank Splits Over Easing Program” published on September 15, 2016 as well as Law360.com‘s news article titled: “Split 9th Circ. Denies En Banc Rehearing In ERISA Case” with publication date: September 21, 2016.
Life & Banc Split Corp. is a mutual fund company. The company has a market cap of $149.37 million. The Fund’s investment objectives are to provide holders of preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions and the opportunity for capital appreciation. It currently has negative earnings. The Fund invests in a common share portfolio consisting of the approximately six Canadian banks and over four Canadian life insurance companies on an equally weighted basis at the time of investment.
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