Goodfellow Inc. Has Another Very Positive Trading Session Recording a Gap Up

 Goodfellow Inc. Has Another Very Positive Trading Session Recording a Gap Up

The stock of Goodfellow Inc. (TSE:GDL) gapped up by $0.24 today and has $22.00 target or 120.00% above today’s $10.00 share price. The 9 months technical chart setup indicates low risk for the $84.55M company. The gap was reported on Nov, 11 by Barchart.com. If the $22.00 price target is reached, the company will be worth $101.46M 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 25,000 shares traded hands or 284.97% up from the average. Goodfellow Inc. (TSE:GDL) has declined 14.83% since April 7, 2016 and is downtrending. It has underperformed by 20.98% the S&P500.

More notable recent Goodfellow Inc. (TSE:GDL) news were published by: Marketwired.com which released: “Goodfellow Inc. Announces the Signing of a Letter of Intent to Acquire Quality …” on October 16, 2015, also Marketwatch.com with their article: “Goodfellow Announces Delay in Filing Its Quarterly Financial Statements” published on October 13, 2016, Marketwired.com published: “Goodfellow Announces the Resignation of M. Richard Goodfellow as Director of …” on December 01, 2014. More interesting news about Goodfellow Inc. (TSE:GDL) were released by: Marketwired.com and their article: “Goodfellow Announces the Retirement of M. Richard Goodfellow on November 30, 2014” published on June 13, 2014 as well as Marketwired.com‘s news article titled: “Goodfellow Reports Its Results for the Fifteen Months Ended November 30, 2014” with publication date: February 11, 2015.

Goodfellow Inc. is a Canada-based company, which is engaged in the remanufacturing and distributing of lumber and hardwood flooring products. The company has a market cap of $84.55 million. The Firm is engaged in the wholesale distribution of wood products, and remanufacturing, distribution and brokerage of lumber. It has a 10.38 P/E ratio. The Firm offers products, including decking, flooring, lumber, insulation and sound proofing, panels, siding, and specialty and commodity panels.

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