The stock of Thomson Reuters Corp (TSE:TRI) gapped down by $0.02 today and has $52.99 target or 5.00% below today’s $55.78 share price. The 9 months technical chart setup indicates high risk for the $41.22B company. The gap down was reported on Nov, 15 by Barchart.com. If the $52.99 price target is reached, the company will be worth $2.06B less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 317,637 shares traded hands. Thomson Reuters Corp (TSE:TRI) has risen 8.16% since April 11, 2016 and is uptrending. It has outperformed by 4.23% the S&P500.
Thomson Reuters Corp (TSE:TRI) Ratings Coverage
Out of 5 analysts covering Thomson Reuters Corporation (TSE:TRI), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. $62.50 is the highest target while $43 is the lowest. The $51.60 average target is -7.49% below today’s ($55.78) stock price. Thomson Reuters Corporation has been the topic of 11 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock of Thomson Reuters Corp (TSE:TRI) has “Hold” rating given on Wednesday, November 2 by TD Securities. RBC Capital Markets maintained Thomson Reuters Corp (TSE:TRI) on Wednesday, November 2 with “Sector Perform” rating. The firm earned “Buy” rating on Friday, July 31 by TD Securities. The stock has “Hold” rating given by TD Securities on Friday, September 16.
More recent Thomson Reuters Corp (TSE:TRI) news were published by: Wsj.com which released: “Thomson Reuters to Cut 2000 Jobs in Restructuring” on November 01, 2016. Also Forbes.com published the news titled: “Short Interest In Thomson Reuters Jumps 27.6%” on October 26, 2016. Benzinga.com‘s news article titled: “Username or email:” with publication date: November 14, 2016 was also an interesting one.
Thomson Reuters Corporation is a provider of news and information for professional markets. The company has a market cap of $41.22 billion.
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