Could Toronto-Dominion Bank Change Direction After Today’s Gap Up?

 Could Toronto Dominion Bank Change Direction After Today's Gap Up?

The stock of Toronto-Dominion Bank (TSE:TD) gapped up by $0.16 today and has $92.15 target or 50.00% above today’s $61.43 share price. The 5 months technical chart setup indicates low risk for the $114.08 billion company. The gap was reported on Nov, 10 by Barchart.com. If the $92.15 price target is reached, the company will be worth $57.04 billion 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 981,441 shares traded hands. Toronto-Dominion Bank (TSE:TD) has risen 10.25% since April 6, 2016 and is uptrending. It has outperformed by 4.60% 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. $69 is the highest target while $44 is the lowest. The $61.58 average target is 0.24% above today’s ($61.43) stock price. Toronto-Dominion Bank has been the topic of 26 analyst reports since August 29, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained it with “Outperform” rating and $61;51 target price in Friday, May 27 report. The rating was maintained by Dundee Securities with “Buy” on Wednesday, September 21. The rating was maintained by Scotia Capital on Tuesday, October 25 with “Sector Perform”. As per Wednesday, November 2, the company rating was maintained by RBC Capital Markets. As per Tuesday, October 25, the company rating was maintained by RBC Capital Markets. The firm has “Buy” rating by Canaccord Genuity given on Wednesday, December 9.

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, Prnewswire.com published: “How These Banking Stocks are Faring? — Toronto-Dominion Bank, TCF Financial …” on November 09, 2016. More interesting news about Toronto-Dominion Bank (TSE:TD) were released by: Stltoday.com and their article: “TD Ameritrade said to join with Toronto-Dominion Bank to bid for Scottrade” published on October 20, 2016 as well as Fool.ca‘s news article titled: “Toronto-Dominion Bank: The Right Time to Buy?” with publication date: October 31, 2016.

The Toronto-Dominion Bank operates as a bank in North America. The company has a market cap of $114.08 billion. The Bank is an online financial services firm, with over 10.2 million online and mobile customers. It has a 13.85 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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