Could Domtar Corp See a Reversal After Having a Gap Up Today?

 Could Domtar Corp See a Reversal After Having a Gap Up Today?

The stock of Domtar Corp (TSE:UFS) gapped up by $0.46 today and has $74.43 target or 46.00% above today’s $50.98 share price. The 8 months technical chart setup indicates low risk for the $3.27 billion company. The gap was reported on Nov, 14 by Barchart.com. If the $74.43 price target is reached, the company will be worth $1.50 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 53,950 shares traded hands or 39.45% up from the average. Domtar Corp (TSE:UFS) has declined 5.46% since April 8, 2016 and is downtrending. It has underperformed by 10.44% the S&P500.

Domtar Corp (TSE:UFS) Ratings Coverage

Out of 2 analysts covering Domtar Corp (TSE:UFS), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Domtar Corp has been the topic of 3 analyst reports since April 29, 2016 according to StockzIntelligence Inc. RBC Capital Markets maintained Domtar Corp (TSE:UFS) rating on Friday, April 29. RBC Capital Markets has “Outperform” rating and $56.50 price target. TD Securities maintained the stock with “Hold” rating in Friday, October 28 report. The rating was maintained by RBC Capital Markets on Tuesday, October 11 with “Outperform”.

More important recent Domtar Corp (TSE:UFS) news were published by: Marketwatch.com which released: “Domtar downgraded to underperform from neutral at DA Davidson” on December 21, 2009, also Quotes.Wsj.com published article titled: “News Domtar Corp.UFS”, Bizjournals.com published: “Domtar to cut 100 jobs from eastern N.C. pulp plant” on September 30, 2016. More interesting news about Domtar Corp (TSE:UFS) was released by: Bizjournals.com and their article: “International sales vital to Fort Mill’s Domtar Corp.” with publication date: September 15, 2016.

Domtar Corporation designs, manufactures, markets and distributes a range of fiber products, including communication papers, specialty and packaging papers and absorbent hygiene products. The company has a market cap of $3.27 billion. The Firm operates through two business divisions: Pulp and Paper, and Personal Care. It has a 17.15 P/E ratio. The Company’s Pulp and Paper segment is engaged in the designing, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.

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