First Asset Canadian REIT Income Fund Just Recorded A Sigfniciant Gap Up

 First Asset Canadian REIT Income Fund Just Recorded A Sigfniciant Gap Up

The stock of First Asset Canadian REIT Income Fund (TSE:RIT) gapped up by $0.03 today and has $23.14 target or 60.00% above today’s $14.46 share price. The 7 months technical chart setup indicates low risk for the $174.42 million company. The gap was reported on Nov, 15 by Barchart.com. If the $23.14 price target is reached, the company will be worth $104.65M 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 60,328 shares traded hands or 298.10% up from the average. First Asset Canadian REIT Income Fund (TSE:RIT) has risen 0.28% since April 11, 2016 and is uptrending. It has underperformed by 3.65% the S&P500.

More notable recent First Asset Canadian REIT Income Fund (TSE:RIT) news were published by: Theglobeandmail.com which released: “Top REIT picks from fund managers” on April 24, 2014, also Business.Financialpost.com with their article: “Jonathan Chevreau: Why fund investors should get active with their ETFs” published on September 08, 2015, Theglobeandmail.com published: “If volatility is so low, why is portfolio risk so high?” on August 28, 2016. More interesting news about First Asset Canadian REIT Income Fund (TSE:RIT) were released by: Theglobeandmail.com and their article: “What investors should do about the Fed’s interest-rate conundrum” published on August 21, 2016 as well as Forbes.com‘s news article titled: “Meet The Hedge Fund Activist Shaking Up The Market’s Best-Performing Asset Class” with publication date: June 15, 2016.

First Asset Canadian Reit Income Fund , formerly First Asset REIT Income Fund, is a Canada closed-end investment trust. The company has a market cap of $174.42 million. The Fund’s investment objectives is to provide holders with the benefits of high monthly cash distributions together with the opportunity for capital appreciation through the active management of a diversified portfolio of real estate investment trusts (REITs) and real estate firms that are listed on Canadian stock exchanges. It has a 9.62 P/E ratio. The investment portfolio provides diversification among various real estate holdings, including apartment buildings, shopping centers, office buildings and nursing/retirement homes, among others.

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