The stock of Keyera Corp (TSE:KEY) gapped down by $0.04 today and has $34.88 target or 7.00% below today’s $37.51 share price. The 6 months technical chart setup indicates high risk for the $6.84B company. The gap down was reported on Nov, 11 by Barchart.com. If the $34.88 price target is reached, the company will be worth $478.80 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 224,239 shares traded hands. Keyera Corp (TSE:KEY) has risen 1.69% since April 7, 2016 and is uptrending. It has underperformed by 4.46% the S&P500.
Keyera Corp (TSE:KEY) Ratings Coverage
Out of 5 analysts covering Keyera (TSE:KEY), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Keyera has been the topic of 28 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock has “” rating given by Raymond James on Monday, June 6. As per Wednesday, November 9, the company rating was maintained by RBC Capital Markets. Scotia Capital maintained Keyera Corp (TSE:KEY) on Thursday, August 11 with “Sector Perform” rating. TD Securities maintained the shares of KEY in a report on Friday, August 7 with “Hold” rating. The rating was upgraded by GMP Securities on Thursday, August 6 to “Hold”. The firm has “Market Perform” rating by BMO Capital Markets given on Thursday, February 4. As per Friday, August 12, the company rating was maintained by TD Securities.
More important recent Keyera Corp (TSE:KEY) news were published by: Reuters.com which released: “BRIEF-Keyera Corp announces Q3 2016 results” on November 08, 2016, also Marketwired.com published article titled: “Keyera Corp. Announces $300 Million Public Offering of Common Shares”, Seekingalpha.com published: “Keyera Corp: Buy This Stock Before The Plethora Of New Projects Come Online In …” on August 09, 2016. More interesting news about Keyera Corp (TSE:KEY) was released by: Business.Financialpost.com and their article: “Behind the ‘sweet spot’ at investor favourite Keyera Corp.” with publication date: May 23, 2014.
Keyera Corp. is engaged in energy midstream businesses, and operates in gas and oil sector between upstream and downstream sectors. The company has a market cap of $6.84 billion. The Firm is organized into two business units: Gathering and Processing Business Unit and Liquids Business Unit. It has a 32.71 P/E ratio. It owns and operates raw gas gathering pipelines and processing plants, which collects and processes raw natural gas, removes waste products and separates the economic components through its Gathering and Processing Business Unit.
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