The stock of Cascades Inc (TSE:CAS) gapped down by $0.4 today and has $10.92 target or 7.00% below today’s $11.74 share price. The 7 months technical chart setup indicates high risk for the $1.09B company. The gap down was reported on Nov, 11 by Barchart.com. If the $10.92 price target is reached, the company will be worth $76.30 million 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 145,641 shares traded hands or 9.06% up from the average. Cascades Inc (TSE:CAS) has risen 41.17% since April 7, 2016 and is uptrending. It has outperformed by 35.02% the S&P500.
Cascades Inc (TSE:CAS) Ratings Coverage
Out of 5 analysts covering Cascades Inc. (TSE:CAS), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Cascades Inc. has been the topic of 19 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The rating was upgraded by IBC to “Sector Outperform” on Monday, August 29. Scotia Capital maintained the stock with “Outperform” rating in Tuesday, October 25 report. The stock of Cascades Inc (TSE:CAS) has “Hold” rating given on Thursday, January 14 by TD Securities. The firm has “Buy” rating given on Thursday, November 12 by Dundee Securities. As per Monday, August 22, the company rating was maintained by RBC Capital Markets. The stock of Cascades Inc (TSE:CAS) earned “Sector Perform” rating by RBC Capital Markets on Friday, September 4. On Monday, August 10 the stock rating was maintained by TD Securities with “Buy”. Dundee Securities downgraded the stock to “Neutral” rating in Friday, October 16 report.
More recent Cascades Inc (TSE:CAS) news were published by: Business.Financialpost.com which released: “Cascades Inc upgraded as ‘containerboard train’ chugs along” on August 29, 2016. Also Business.Financialpost.com published the news titled: “Cascades Inc. a trading opportunity ahead of seasonally strong quarters, says …” on July 11, 2016. Seekingalpha.com‘s news article titled: “Making A Green Investment Through Cascades Inc.” with publication date: July 15, 2016 was also an interesting one.
Cascades Inc. is a Canada firm that produces, converts and markets packaging and tissue products consisting of recycled fibers. The company has a market cap of $1.09 billion. The Firm operates through four divisions: Containerboard, Boxboard Europe, Specialty Products (which constitutes the Company’s Packaging Products) and Tissue Papers. It has a 21.05 P/E ratio. The Containerboard segment is a maker of containerboard and converter of corrugated products in North America.
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