The stock of Builders Capital Mortgage Corp (CVE:BCF) gapped up by $0.06 today and has $14.97 target or 54.00% above today’s $9.72 share price. The 9 months technical chart setup indicates low risk for the $13.53 million company. The gap was reported on Nov, 21 by Barchart.com. If the $14.97 price target is reached, the company will be worth $7.31 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 1,300 shares traded hands or 62.91% up from the average. Builders Capital Mortgage Corp (CVE:BCF) has risen 6.00% since October 22, 2016 and is uptrending. It has outperformed by 2.14% the S&P500.
More important recent Builders Capital Mortgage Corp (CVE:BCF) news were published by: Marketwired.com which released: “Builders Capital Mortgage Corp. Announces Class B Non-Voting Share Distribution” on October 25, 2016, also Marketwired.com published article titled: “Builders Capital Mortgage Corp. Announces Intention to Complete Class A Non …”, Business.Financialpost.com published: “Six months later Builders Capital set to go public” on November 01, 2013. More interesting news about Builders Capital Mortgage Corp (CVE:BCF) was released by: Seekingalpha.com and their article: “American Capital Agency: Buh-Bye!” with publication date: June 28, 2016.
Builders Capital Mortgage Corp. is a mortgage investment corporation . The company has a market cap of $13.53 million. The Company’s principal business is to acquire, originate and maintain a portfolio consisting primarily of construction mortgages that are secured by development-stage residential real property. It has a 10.57 P/E ratio. The Company’s investment objective is to maintain a portfolio of mortgages that generates attractive returns, relative to risk, in order to permit it to pay distributions to its shareholders.
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