Traders Are Bullish Thomson Reuters Corp After Today’s Gap Up

 Traders Are Bullish Thomson Reuters Corp After Today's Gap Up

The stock of Thomson Reuters Corp (TSE:TRI) gapped up by $0.08 today and has $72.94 target or 31.00% above today’s $55.68 share price. The 9 months technical chart setup indicates low risk for the $40.97 billion company. The gap was reported on Nov, 7 by Barchart.com. If the $72.94 price target is reached, the company will be worth $12.70B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 196,800 shares traded hands. Thomson Reuters Corp (TSE:TRI) has risen 3.95% since April 1, 2016 and is uptrending. It has outperformed by 1.99% the S&P500.

Thomson Reuters Corp (TSE:TRI) Ratings Coverage

Out of 5 analysts covering Thomson Reuters Corporation (TSE:TRI), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. $62.50 is the highest target while $43 is the lowest. The $51.60 average target is -7.33% below today’s ($55.68) stock price. Thomson Reuters Corporation has been the topic of 11 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The rating was upgraded by TD Securities to “Buy” on Friday, July 31. The company was maintained on Wednesday, November 2 by RBC Capital Markets. TD Securities maintained Thomson Reuters Corp (TSE:TRI) on Friday, September 16 with “Hold” rating. The rating was maintained by TD Securities with “Hold” on Wednesday, November 2.

More recent Thomson Reuters Corp (TSE:TRI) news were published by: Reuters.com which released: “Thomson Reuters to cut 2000 jobs; profit tops estimates” on November 01, 2016. Also Forbes.com published the news titled: “Short Interest In Thomson Reuters Jumps 27.6%” on October 26, 2016. Blogs.Wsj.com‘s news article titled: “GE Cybersecurity Chief Departing for Thomson Reuters” with publication date: October 19, 2016 was also an interesting one.

Thomson Reuters Corporation is a provider of news and information for professional markets. The company has a market cap of $40.97 billion.

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