MBAC Fertilizer Corp’s Big Gap Up Today Points to Less Stock Risks

 MBAC Fertilizer Corp's Big Gap Up Today Points to Less Stock Risks

The stock of MBAC Fertilizer Corp (CVE:MBC) gapped up by $0.2 today and has $2.46 target or 63.00% above today’s $1.51 share price. The 5 months technical chart setup indicates low risk for the $2.76M company. The gap was reported on Nov, 18 by Barchart.com. If the $2.46 price target is reached, the company will be worth $1.74 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 7,520 shares traded hands. MBAC Fertilizer Corp (CVE:MBC) has risen 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.

More notable recent MBAC Fertilizer Corp (CVE:MBC) news were published by: Marketwatch.com which released: “TSX Delisting Review – MBAC Fertilizer Corp. (symbol:MBC MBC.WT)” on April 06, 2016, also Marketwatch.com with their article: “TSX Delisting Review – MBAC Fertilizer Corp. (symbol:MBC and MBC.WT)” published on June 24, 2016, Reuters.com published: “BRIEF-MBAC Fertilizer announces court approval of Brazilian restructuring …” on September 07, 2016. More interesting news about MBAC Fertilizer Corp (CVE:MBC) were released by: Reuters.com and their article: “BRIEF-MBAC Fertilizer announces filing under companies’ creditors arrangem…” published on August 04, 2016 as well as Marketwired.com‘s news article titled: “MBAC Fertilizer Reports Q1, 2016 Results” with publication date: June 03, 2016.

MBAC Fertilizer Corp. is a Canada-based company, which is engaged in the mining, production and exploration of phosphate fertilizers in the Brazilian market. The company has a market cap of $2.76 million. The Firm operates the Itafos Arraias Single Super Phosphate Operations. It currently has negative earnings. The Company’s divisions include Operations, Development and Exploration, and Corporate.

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