The stock of Computer Modelling Group Ltd. (TSE:CMG) gapped up by $0.03 today and has $10.66 target or 23.00% above today’s $8.67 share price. The 7 months technical chart setup indicates low risk for the $703.11 million company. The gap was reported on Nov, 16 by Barchart.com. If the $10.66 price target is reached, the company will be worth $161.72M 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 23,084 shares traded hands. Computer Modelling Group Ltd. (TSE:CMG) has declined 16.42% since April 12, 2016 and is downtrending. It has underperformed by 21.11% the S&P500.
Computer Modelling Group Ltd. (TSE:CMG) Ratings Coverage
Out of 4 analysts covering Computer Modelling Group Ltd. (TSE:CMG), 1 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 25% are positive. $13 is the highest target while $8 is the lowest. The $9.80 average target is 13.03% above today’s ($8.67) stock price. Computer Modelling Group Ltd. has been the topic of 11 analyst reports since August 13, 2015 according to StockzIntelligence Inc. As per Wednesday, November 9, the company rating was maintained by Scotia Capital. Altacorp downgraded it to “Sector Perform” rating and $13 target price in Wednesday, October 14 report. The rating was maintained by RBC Capital Markets on Tuesday, May 24 with “Underperform”. The firm has “Underperform” rating given on Friday, August 12 by Scotia Capital. The firm has “Hold” rating given on Thursday, October 22 by Canaccord Genuity.
More news for Computer Modelling Group Ltd. (TSE:CMG) were recently published by: Marketwired.com, which released: “Computer Modelling Group Declares Quarterly Dividend” on November 07, 2016. Seekingalpha.com‘s article titled: “Computer Modelling Group: Thoughts On Dividend Sustainability” and published on September 06, 2016 is yet another important article.
Computer Modelling Group Ltd. is a Canada computer software technology firm serving the gas and oil industry. The company has a market cap of $703.11 million. The Firm operates through the development and licensing of reservoir simulation software segment. It has a 29.14 P/E ratio. The Firm is a supplier of process reservoir modelling software with a blue chip customer base of international oil companies and technology centers in approximately 60 countries.
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