After Today’s Gap Up, Is Toronto-Dominion Bank’s Near-Term Analysis Positive

 After Today's Gap Up, Is Toronto Dominion Bank's Near Term Analysis Positive

The stock of Toronto-Dominion Bank (TSE:TD) gapped up by $0.03 today and has $69.48 target or 9.00% above today’s $63.74 share price. The 7 months technical chart setup indicates low risk for the $119.29 billion company. The gap was reported on Nov, 22 by Barchart.com. If the $69.48 price target is reached, the company will be worth $10.74 billion 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 517,419 shares traded hands. Toronto-Dominion Bank (TSE:TD) has risen 14.50% since April 18, 2016 and is uptrending. It has outperformed by 9.95% the S&P500.

Toronto-Dominion Bank (TSE:TD) Ratings Coverage

Out of 6 analysts covering Toronto-Dominion Bank (TSE:TD), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. $69 is the highest target while $44 is the lowest. The $61.58 average target is -3.39% below today’s ($63.74) stock price. Toronto-Dominion Bank has been the topic of 26 analyst reports since August 29, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Tuesday, October 25 by RBC Capital Markets. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, November 2 report. The stock has “Buy” rating given by Canaccord Genuity on Wednesday, December 9. Dundee Securities maintained the shares of TD in a report on Wednesday, September 21 with “Buy” rating. The stock of Toronto-Dominion Bank (TSE:TD) has “Outperform” rating given on Friday, May 27 by RBC Capital Markets. Scotia Capital maintained Toronto-Dominion Bank (TSE:TD) rating on Tuesday, October 25. Scotia Capital has “Sector Perform” rating and $60 price target.

More notable recent Toronto-Dominion Bank (TSE:TD) news were published by: Business.Financialpost.com which released: “Toronto-Dominion Bank raising rates, variable rate mortgage customers to face …” on November 01, 2016, also Bloomberg.com with their article: “TD Ameritrade, TD Bank Said Near $4 Billion Scottrade Deal” published on October 23, 2016, Seekingalpha.com published: “Toronto Dominion Bank: Another Nice Deal, But In A Roundabout Way” on October 27, 2016. More interesting news about Toronto-Dominion Bank (TSE:TD) were released by: Fool.ca and their article: “Toronto-Dominion Bank: The Right Time to Buy?” published on October 31, 2016 as well as Prnewswire.com‘s news article titled: “TD Bank Invests in Affordable Housing for Seniors and Homeless Veterans with …” with publication date: November 14, 2016.

The Toronto-Dominion Bank operates as a bank in North America. The company has a market cap of $119.29 billion. The Bank is an online financial services firm, with over 10.2 million online and mobile customers. It has a 14.37 P/E ratio. The Company’s divisions include Canadian Retail, U.S.

TD.TO Company Profile

The Toronto-Dominion Bank (the Bank), incorporated on June 22, 1998, operates as a bank in North America. The Bank is an online financial services firm, with approximately 10.2 million online and mobile customers. The Bank conducts its business through the divisions, which include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial services and products to clients in the Canadian personal and commercial banking businesses. The U.S. Retail segment consists of the Bank’s retail and commercial banking activities operating under the brand TD Bank, and wealth management services in the United States. The Wholesale Banking segment provides a range of capital markets, investment banking, and corporate banking services and products, including underwriting and distribution of new debt and equity issues, providing advice on strategic acquisitions and divestitures, and meeting the daily trading, funding and investment needs of its clients. The Corporate segment includes the impact of treasury and balance sheet management activities.

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