Is Buying Stock Like Martinrea International Inc After Such Gap Up a Winning Strategy?

 Is Buying Stock Like Martinrea International Inc After Such Gap Up a Winning Strategy?

The stock of Martinrea International Inc (TSE:MRE) gapped up by $0.03 today and has $9.07 target or 27.00% above today’s $7.14 share price. The 5 months technical chart setup indicates low risk for the $633.94 million company. The gap was reported on Nov, 17 by Barchart.com. If the $9.07 price target is reached, the company will be worth $171.16M 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 224,418 shares traded hands. Martinrea International Inc (TSE:MRE) has declined 28.37% since April 13, 2016 and is downtrending. It has underperformed by 32.99% the S&P500.

Martinrea International Inc (TSE:MRE) Ratings Coverage

Out of 4 analysts covering Martinrea International Inc. (TSE:MRE), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. $21.50 is the highest target while $13.50 is the lowest. The $17.50 average target is 145.10% above today’s ($7.14) stock price. Martinrea International Inc. has been the topic of 10 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The company was maintained on Monday, August 10 by Canaccord Genuity. The stock of Martinrea International Inc (TSE:MRE) has “Buy” rating given on Monday, August 10 by Paradigm Research. On Tuesday, December 1 the stock rating was upgraded by Canaccord Genuity to “Focus List”. The firm has “Outperform” rating given on Monday, August 10 by IBC.

More recent Martinrea International Inc (TSE:MRE) news were published by: Marketwired.com which released: “Martinrea International Inc. to Announce Third Quarter Results on November 3, 2016” on October 28, 2016. Also Crainsdetroit.com published the news titled: “Martinrea Hot Stampings in Detroit to lay off 68 workers” on July 05, 2016. Marketwired.com‘s news article titled: “Martinrea International Inc. to Appoint Pat D’Eramo as President and Chief …” with publication date: October 20, 2014 was also an interesting one.

Martinrea International Inc. is a Canada firm engaged in the development and production of metal parts, assemblies and modules, fluid management systems and complex aluminum products focused primarily on the automotive sector. The company has a market cap of $633.94 million. The Company’s divisions are North America, Europe and Rest of the World. It has a 6.92 P/E ratio. It serves various vehicle manufacturers, as well as automotive suppliers and also serves other industrial sectors across the world.

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