The stock of Enercare Inc. (TSE:ECI) gapped up by $0.08 today and has $32.36 target or 68.00% above today’s $19.26 share price. The 6 months technical chart setup indicates low risk for the $1.99 billion company. The gap was reported on Nov, 10 by Barchart.com. If the $32.36 price target is reached, the company will be worth $1.35 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 69,172 shares traded hands. Enercare Inc. (TSE:ECI) has risen 22.83% since April 6, 2016 and is uptrending. It has outperformed by 17.18% the S&P500.
Enercare Inc. (TSE:ECI) Ratings Coverage
Out of 2 analysts covering Enercare Inc (TSE:ECI), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $20 is the highest target while $15.75 is the lowest. The $19 average target is -1.35% below today’s ($19.26) stock price. Enercare Inc has been the topic of 5 analyst reports since August 11, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, June 10 report. The stock of Enercare Inc. (TSE:ECI) earned “Buy” rating by Desjardins Securities on Tuesday, August 11. Desjardins Securities initiated the shares of ECI in a report on Friday, July 15 with “Buy” rating.
More recent Enercare Inc. (TSE:ECI) news were published by: Marketwired.com which released: “EnerCare Inc. Appoints Additional Director” on October 27, 2014. Also Marketwired.com published the news titled: “EnerCare Completes Acquisition of Direct Energy’s Home and Small Commercial …” on October 20, 2014. Business.Financialpost.com‘s news article titled: “Enercare gets busy: Takeover talk, a new $550-million business, and issuing equity” with publication date: July 24, 2014 was also an interesting one.
Enercare Inc. is a Canada-based company engaged in home services and sub-metering businesses. The company has a market cap of $1.99 billion. The Firm operates through two divisions: Home Services and Sub-metering. It has a 35.81 P/E ratio. The Company’s Home Services segment is engaged in the provision of water heaters, furnaces, air conditioners and other heating, ventilation and air conditioning rental products, protection plans and related services.
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