The stock of Toronto-Dominion Bank (TSE:TD) gapped down by $0.15 today and has $59.00 target or 5.00% below today’s $62.11 share price. The 8 months technical chart setup indicates high risk for the $114.33B company. The gap down was reported on Nov, 16 by Barchart.com. If the $59.00 price target is reached, the company will be worth $5.72B 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 508,287 shares traded hands. Toronto-Dominion Bank (TSE:TD) has risen 13.52% since April 12, 2016 and is uptrending. It has outperformed by 8.83% the S&P500.
Toronto-Dominion Bank (TSE:TD) Ratings Coverage
Out of 6 analysts covering Toronto-Dominion Bank (TSE:TD), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. $69 is the highest target while $44 is the lowest. The $61.58 average target is -0.85% below today’s ($62.11) stock price. Toronto-Dominion Bank has been the topic of 26 analyst reports since August 29, 2015 according to StockzIntelligence Inc. Dundee Securities maintained it with “Buy” rating and $65 target price in Wednesday, September 21 report. RBC Capital Markets maintained it with “Outperform” rating and $65 target price in Tuesday, October 25 report. The firm has “Sector Perform” rating by Scotia Capital given on Tuesday, October 25. The firm earned “Outperform” rating on Wednesday, November 2 by RBC Capital Markets. The stock of Toronto-Dominion Bank (TSE:TD) earned “Outperform” rating by RBC Capital Markets on Friday, May 27. The rating was upgraded by Canaccord Genuity on Wednesday, December 9 to “Buy”.
More notable recent Toronto-Dominion Bank (TSE:TD) news were published by: Business.Financialpost.com which released: “Toronto-Dominion Bank raising rates, variable rate mortgage customers to face …” on November 01, 2016, also Bloomberg.com with their article: “TD Ameritrade, TD Bank Said Near $4 Billion Scottrade Deal” published on October 23, 2016, Stltoday.com published: “TD Ameritrade said to join with Toronto-Dominion Bank to bid for Scottrade” on October 20, 2016. More interesting news about Toronto-Dominion Bank (TSE:TD) were released by: Seekingalpha.com and their article: “Toronto Dominion Bank: Another Nice Deal, But In A Roundabout Way” published on October 27, 2016 as well as Fool.ca‘s news article titled: “Toronto-Dominion Bank: The Right Time to Buy?” with publication date: October 31, 2016.
The Toronto-Dominion Bank operates as a bank in North America. The company has a market cap of $114.33 billion. The Bank is an online financial services firm, with over 10.2 million online and mobile customers. It has a 14 P/E ratio. The Company’s divisions include Canadian Retail, U.S.
TD.TO Company Profile
The Toronto-Dominion Bank (the Bank), incorporated on June 22, 1998, operates as a bank in North America. The Bank is an online financial services firm, with approximately 10.2 million online and mobile customers. The Bank conducts its business through the divisions, which include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial services and products to clients in the Canadian personal and commercial banking businesses. The U.S. Retail segment consists of the Bank’s retail and commercial banking activities operating under the brand TD Bank, and wealth management services in the United States. The Wholesale Banking segment provides a range of capital markets, investment banking, and corporate banking services and products, including underwriting and distribution of new debt and equity issues, providing advice on strategic acquisitions and divestitures, and meeting the daily trading, funding and investment needs of its clients. The Corporate segment includes the impact of treasury and balance sheet management activities.
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