The stock of PARK LAWN CORPORATION (TSE:PLC) gapped down by $0.02 today and has $14.46 target or 11.00% below today’s $16.25 share price. The 7 months technical chart setup indicates high risk for the $133.95M company. The gap down was reported on Nov, 16 by Barchart.com. If the $14.46 price target is reached, the company will be worth $14.73 million 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 12,585 shares traded hands. PARK LAWN CORPORATION (TSE:PLC) has risen 30.40% since April 12, 2016 and is uptrending. It has outperformed by 25.71% the S&P500.
More notable recent PARK LAWN CORPORATION (TSE:PLC) news were published by: Marketwatch.com which released: “Park Lawn Corporation Opens the Market” on October 19, 2016, also Marketwatch.com with their article: “Park Lawn Corporation Announces August 2016 Dividend” published on August 19, 2016, Marketwatch.com published: “Park Lawn Corporation Announces Graduation to TSX” on October 17, 2016. More interesting news about PARK LAWN CORPORATION (TSE:PLC) were released by: Marketwired.com and their article: “Park Lawn Corporation Agrees to Acquire Midwest Memorial Group and Announces C …” published on December 02, 2015 as well as Reuters.com‘s news article titled: “BRIEF-Park Lawn Corporation announces C$40 million bought deal offering” with publication date: March 26, 2013.
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