The stock of ECN Capital Corp (TSE:ECN) gapped up by $0.02 today and has $3.30 target or 4.00% above today’s $3.17 share price. The 6 months technical chart setup indicates low risk for the $1.20B company. The gap was reported on Nov, 22 by Barchart.com. If the $3.30 price target is reached, the company will be worth $48.00 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 2.53M shares traded hands. ECN Capital Corp (TSE:ECN) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
More recent ECN Capital Corp (TSE:ECN) news were published by: Seekingalpha.com which released: “ECN Capital Corp. – A Gem In The Garbage Can” on November 02, 2016. Also Marketwatch.com published the news titled: “ECN Capital Corp. Opens the Market” on October 05, 2016. Marketwatch.com‘s news article titled: “ECN Capital Corp.” with publication date: November 01, 2016 was also an interesting one.
ECN Capital Corp is a Canada-based independent commercial finance company. The company has a market cap of $1.20 billion. The Firm operates across North America in the following verticals of the commercial finance market: Rail Finance, Commercial and Vendor Finance, and Commercial Aviation Finance. It currently has negative earnings. Through its C&V vertical, the Company provides financing and leasing solutions to manufacturers, dealers, distributors and end-users of capital equipment across a range of industries such as food service, transportation, construction, manufacturing, healthcare, office equipment and technology products.
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