The stock of Globalance Dividend Growers Corp (TSE:GBF) gapped up by $0.02 today and has $19.91 target or 144.00% above today’s $8.16 share price. The 6 months technical chart setup indicates low risk for the $45.99 million company. The gap was reported on Nov, 21 by Barchart.com. If the $19.91 price target is reached, the company will be worth $66.23 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 18,000 shares traded hands or 36.58% up from the average. Globalance Dividend Growers Corp (TSE:GBF) has risen 0.37% since April 15, 2016 and is uptrending. It has underperformed by 3.49% the S&P500.
Another recent and important Globalance Dividend Growers Corp (TSE:GBF) news was published by Fortune.com which published an article titled: “Microsoft Is the Best Dividend Stock on the Fortune 500” on June 21, 2016.
Globalance Dividend Growers Corp. is a non-redeemable investment fund. The company has a market cap of $45.99 million. The Fund’s investment objectives are to provide equity shareholders with stable monthly cash distributions and to grow distributions over time, and enhanced long-term total return through capital appreciation of the Fund’s investment portfolio. It currently has negative earnings. The Fund focuses on investing in securities of global issuers that exhibit sustainable dividend growth, supplemented by investments in investment-grade fixed income securities to seek to reduce overall portfolio volatility.
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