Could High Liner Foods Inc Change Direction After Today’s Gap Up?

 Could High Liner Foods Inc Change Direction After Today's Gap Up?

The stock of High Liner Foods Inc (TSE:HLF) gapped up by $0.1 today and has $29.72 target or 48.00% above today’s $20.08 share price. The 6 months technical chart setup indicates low risk for the $646.26M company. The gap was reported on Nov, 17 by Barchart.com. If the $29.72 price target is reached, the company will be worth $310.20M 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 49,114 shares traded hands. High Liner Foods Inc (TSE:HLF) has risen 32.15% since April 13, 2016 and is uptrending. It has outperformed by 27.53% the S&P500.

High Liner Foods Inc (TSE:HLF) Ratings Coverage

Out of 3 analysts covering High Liner Foods Incorporated (TSE:HLF), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. $32 is the highest target while $16 is the lowest. The $25.08 average target is 24.90% above today’s ($20.08) stock price. High Liner Foods Incorporated has been the topic of 13 analyst reports since July 29, 2015 according to StockzIntelligence Inc. RBC Capital Markets downgraded it to “Sector Perform” rating and $21 target price in Thursday, August 6 report.

Another recent and important High Liner Foods Inc (TSE:HLF) news was published by Wsj.com which published an article titled: “High Liner Foods to Close Massachusetts Plant” on January 09, 2015.

High Liner Foods Incorporated is a Canada firm engaged in processing and marketing of prepared and packaged frozen seafood products. The company has a market cap of $646.26 million. The Company’s retail branded products are sold across the United States, Canada and Mexico under the High Liner, Fisher Boy, Mirabel, Sea Cuisine and C. It has a 14.46 P/E ratio. Wirthy & Co. brands.

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