Is Buying WSP Global Inc Here a Winning Strategy? The Stock Just Gapped Up

 Is Buying WSP Global Inc Here a Winning Strategy? The Stock Just Gapped Up

The stock of WSP Global Inc (TSE:WSP) gapped up by $0.05 today and has $72.29 target or 60.00% above today’s $45.18 share price. The 8 months technical chart setup indicates low risk for the $4.74B company. The gap was reported on Nov, 10 by Barchart.com. If the $72.29 price target is reached, the company will be worth $2.84 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 92,844 shares traded hands. WSP Global Inc (TSE:WSP) has risen 14.10% since April 6, 2016 and is uptrending. It has outperformed by 8.45% the S&P500.

WSP Global Inc (TSE:WSP) Ratings Coverage

Out of 7 analysts covering WSP Global Inc (TSE:WSP), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. $55 is the highest target while $40 is the lowest. The $47.96 average target is 6.15% above today’s ($45.18) stock price. WSP Global Inc has been the topic of 29 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Scotia Capital maintained WSP Global Inc (TSE:WSP) rating on Wednesday, November 9. Scotia Capital has “Outperform” rating and $48 price target. TD Securities maintained the stock with “Buy” rating in Wednesday, September 21 report. RBC Capital Markets maintained WSP Global Inc (TSE:WSP) on Monday, September 19 with “Outperform” rating. The stock of WSP Global Inc (TSE:WSP) earned “Buy” rating by TD Securities on Thursday, August 6. Desjardins Securities initiated the stock with “Buy” rating in Thursday, September 17 report. The rating was maintained by Scotia Capital on Friday, October 30 with “Sector Outperform”. The firm earned “Outperform” rating on Monday, May 2 by National Bank Canada. On Thursday, November 26 the stock rating was maintained by National Bank Canada with “Outperform”. The firm has “Sector Perform” rating by IBC given on Wednesday, May 11.

More recent WSP Global Inc (TSE:WSP) news were published by: Reuters.com which released: “BRIEF-WSP Global Inc reports Q3 2016 financial results” on November 08, 2016. Also Theglobeandmail.com published the news titled: “The Globe and Mail” on January 02, 2014. Business.Financialpost.com‘s news article titled: “WSP Global Inc climbs to the top of the engineering space: ‘The name to own'” with publication date: August 05, 2015 was also an interesting one.

WSP Global Inc. is a professional services company. The company has a market cap of $4.74 billion. The Company’s divisions are Canada, Americas , EMEIA (Europe, Middle East, India and Africa) and APAC (Asia Pacific, including primarily Asia and Australia). It has a 28.72 P/E ratio. It offers services in project delivery and consulting.

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