Could EXTENDICARE INC Change Direction After Today’s Gap Up?

 Could EXTENDICARE INC Change Direction After Today's Gap Up?

The stock of EXTENDICARE INC (TSE:EXE) gapped up by $0.03 today and has $14.32 target or 47.00% above today’s $9.74 share price. The 6 months technical chart setup indicates low risk for the $854.54 million company. The gap was reported on Nov, 18 by Barchart.com. If the $14.32 price target is reached, the company will be worth $401.63 million 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 203,081 shares traded hands. EXTENDICARE INC (TSE:EXE) has risen 4.44% since April 14, 2016 and is uptrending. It has outperformed by 0.01% the S&P500.

More recent EXTENDICARE INC (TSE:EXE) news were published by: Wsj.com which released: “Investment Firm Oxford Park Buys More Than 5% Stake in Extendicare” on July 14, 2015. Also Wsj.com published the news titled: “Oxford Park Seeks Board Shakeup at Extendicare” on November 16, 2015. Reuters.com‘s news article titled: “BRIEF-Extendicare Inc – qtrly AFFO earnings per share $0.223” with publication date: November 10, 2016 was also an interesting one.

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