The stock of Financial 15 Split Corp. (TSE:FTN) gapped up by $0.04 today and has $20.16 target or 127.00% above today’s $8.88 share price. The 8 months technical chart setup indicates low risk for the $168.91 million company. The gap was reported on Nov, 14 by Barchart.com. If the $20.16 price target is reached, the company will be worth $214.52 million 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 228,227 shares traded hands or 224.41% up from the average. Financial 15 Split Corp. (TSE:FTN) has risen 8.18% since April 8, 2016 and is uptrending. It has outperformed by 3.19% the S&P500.
More news for Financial 15 Split Corp. (TSE:FTN) were recently published by: Marketwired.com, which released: “Financial 15 Split Corp. Announces Successful Overnight Offering” on November 20, 2015. Marketwired.com‘s article titled: “Financial 15 Split Corp. II Announces Overnight Offering” and published on July 22, 2014 is yet another important article.
Financial 15 Split Corporation is a mutual fund company, which invests primarily in over 15 Canadian and the United States financial services companies. The company has a market cap of $168.91 million. It offers over two types of shares, such as Preferred Shares and Class A Shares. It currently has negative earnings. The Company’s investment objectives with respect to Preferred Shares are to provide holders of Preferred Shares with cumulative preferential monthly cash dividends in an amount of over 5.25% annually and to pay the holders of the Preferred Shares approximately $10 per Preferred Share on or about the termination date.
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