The stock of Amaya Inc (TSE:AYA) gapped up by $2.21 today and has $33.50 target or 59.00% above today’s $21.07 share price. The 6 months technical chart setup indicates low risk for the $3.08B company. The gap was reported on Nov, 14 by Barchart.com. If the $33.50 price target is reached, the company will be worth $1.82B 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 2.38 million shares traded hands or 588.96% up from the average. Amaya Inc (TSE:AYA) has risen 14.27% since April 8, 2016 and is uptrending. It has outperformed by 9.29% the S&P500.
More important recent Amaya Inc (TSE:AYA) news were published by: Reuters.com which released: “Canada’s Amaya, Britain’s William Hill in talks to merge” on October 07, 2016, also Fool.com published article titled: “Why Amaya Inc. Stock Plummeted 21.5% Today”, Reuters.com published: “William Hill, Amaya drop short-lived gambling merger talks” on October 18, 2016. More interesting news about Amaya Inc (TSE:AYA) was released by: Reuters.com and their article: “BRIEF-Amaya Inc says confirms potential merger talks with William Hill” with publication date: October 07, 2016.
Amaya Inc. is a Canada-based provider of technology services and products in the global gaming and interactive entertainment industries. The company has a market cap of $3.08 billion. The Company’s business-to-consumer business consists of the activities of Amaya Group Holding (IOM) Limited and its subsidiaries (collectively Rational Group). It has a 1668.25 P/E ratio. Rational Group offers services and products, such as online (including desktop and mobile) real- and play-money poker and other products, including casino and sports betting (also known as sportsbook).
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