Is Warrnambool Cheese & Butter Factory Co. a Buy? The Stock Gapped Up Today

 Is Warrnambool Cheese & Butter Factory Co. a Buy? The Stock Gapped Up Today

The stock of Warrnambool Cheese & Butter Factory Co. (ASX:WCB) gapped up by $0.1 today and has $9.04 target or 31.00% above today’s $6.90 share price. The 9 months technical chart setup indicates low risk for the $531.85M company. The gap was reported on Nov, 15 by Barchart.com. If the $9.04 price target is reached, the company will be worth $164.87M 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%. The stock increased 1.47% or $0.1 on November 15, hitting $6.9. About 11,800 shares traded hands or 1610.14% up from the average. Warrnambool Cheese & Butter Factory Co. (ASX:WCB) has declined 14.77% since April 19, 2016 and is downtrending. It has underperformed by 18.69% the S&P500.

More recent Warrnambool Cheese & Butter Factory Co. (ASX:WCB) news were published by: Smh.com.Au which released: “Saputo wins bidding battle for Warrnambool Cheese and Butter” on January 16, 2014. Also Smh.com.Au published the news titled: “Warrnambool Cheese & Butter buys Lion Dairy unit” on March 02, 2015. Bloomberg.com‘s news article titled: “Saputo A$449 Million Bid Tops Rivals for Warrnambool Cheese” with publication date: October 24, 2013 was also an interesting one.

Warrnambool Cheese and Butter Factory Company Holdings Limited is engaged in the manufacture, processing and sale of cheese, milk powder, butter, cream, whey protein concentrate, lactoferrin, and bulk and processed milk. The company has a market cap of $531.85 million. The Firm operates through three divisions: Commodities, Consumer Goods and Other. It has a 15.73 P/E ratio. The Commodities segment consists of dairy products, cheese, skim milk powder, butter, cream, lactoferrin and whey protein concentrate, which are manufactured in Australia and sold in domestic and export markets to wholesale customers.

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