The stock of Canadian Life Companies Split Corp. (TSE:LFE) gapped up by $0.02 today and has $5.97 target or 4.00% above today’s $5.74 share price. The 8 months technical chart setup indicates low risk for the $83.94 million company. The gap was reported on Nov, 22 by Barchart.com. If the $5.97 price target is reached, the company will be worth $3.36 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 51,049 shares traded hands. Canadian Life Companies Split Corp. (TSE:LFE) has risen 69.46% since April 18, 2016 and is uptrending. It has outperformed by 64.91% the S&P500.
More recent Canadian Life Companies Split Corp. (TSE:LFE) news were published by: Marketwired.com which released: “Canadian Life Companies Split Corp. Declares Preferred Share Dividend” on July 20, 2016. Also News.Sys-Con.com published the news titled: “Canadian Life Companies Split Corp. Preferred Dividend Declared” on October 19, 2016. Theglobeandmail.com‘s news article titled: “Ups and downs of split shares” with publication date: March 01, 2011 was also an interesting one.
Canadian Life Companies Split Corp. is a mutual fund corporation. The company has a market cap of $83.94 million. The Firm invests primarily in a portfolio of common shares of approximately four core large capitalization Canadian life insurance companies, such as Great West Lifeco Inc., Manulife Financial Corporation, Industrial-Alliance Insurance & Financial Services and Sun Life Financial Inc. It currently has negative earnings. The Firm offers two types of shares: Preferred shares and Class A shares.
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