New Flyer Industries Inc Stock Is Crashing Now. What To Expect?

 New Flyer Industries Inc Stock Is Crashing Now. What To Expect?

The stock of New Flyer Industries Inc (TSE:NFI) gapped down by $0.39 today and has $34.63 target or 7.00% below today’s $37.24 share price. The 7 months technical chart setup indicates high risk for the $2.32 billion company. The gap down was reported on Nov, 9 by Barchart.com. If the $34.63 price target is reached, the company will be worth $162.40M 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 64,315 shares traded hands. New Flyer Industries Inc (TSE:NFI) has risen 7.54% since April 5, 2016 and is uptrending. It has outperformed by 2.76% the S&P500.

New Flyer Industries Inc (TSE:NFI) Ratings Coverage

Out of 3 analysts covering New Flyer Industries Inc. (TSE:NFI), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. $51 is the highest target while $17 is the lowest. The $41.40 average target is 11.17% above today’s ($37.24) stock price. New Flyer Industries Inc. has been the topic of 14 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Canaccord Genuity maintained New Flyer Industries Inc (TSE:NFI) rating on Monday, August 10. Canaccord Genuity has “Buy” rating and $21 price target. The rating was maintained by Scotia Capital on Friday, September 23 with “Outperform”. The stock has “Sector Outperformer” rating given by IBC on Friday, August 7. National Bank Canada maintained New Flyer Industries Inc (TSE:NFI) rating on Monday, August 10. National Bank Canada has “Outperform” rating and $20 price target. The stock has “Outperform” rating given by Scotia Capital on Tuesday, October 25.

More notable recent New Flyer Industries Inc (TSE:NFI) news were published by: Theglobeandmail.com which released: “The Globe and Mail” on August 23, 2011, also Forbes.com with their article: “New Flyer Industries (NFI) Shares Cross 7% Yield Mark” published on September 23, 2016, Theglobeandmail.com published: “Hold off on buying shares in New Flyer Industries” on November 02, 2015. More interesting news about New Flyer Industries Inc (TSE:NFI) were released by: Marketwired.com and their article: “Marcopolo Sells a Portion of its Shares in New Flyer, Remaining New Flyer’s …” published on September 22, 2016 as well as Fool.ca‘s news article titled: “Why Did New Flyer Industries Inc. Hit All-Time Highs Last Week?” with publication date: March 14, 2016.

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