Is Goodfellow Inc.’s Fuel Running Low? The Stock Just Gapped Down

 Is Goodfellow Inc.'s Fuel Running Low? The Stock Just Gapped Down

The stock of Goodfellow Inc. (TSE:GDL) gapped down by $0.32 today and has $9.00 target or 4.00% below today’s $9.38 share price. The 9 months technical chart setup indicates high risk for the $81.74 million company. The gap down was reported on Nov, 25 by Barchart.com. If the $9.00 price target is reached, the company will be worth $3.27M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 41,912 shares traded hands or 600.28% up from the average. Goodfellow Inc. (TSE:GDL) has declined 5.63% since April 21, 2016 and is downtrending. It has underperformed by 11.04% the S&P500.

More important recent Goodfellow Inc. (TSE:GDL) news were published by: Marketwired.com which released: “Goodfellow Inc. Announces the Signing of a Letter of Intent to Acquire Quality …” on October 16, 2015, also Marketwired.com published article titled: “Goodfellow Announces Delay in Filing Its Quarterly Financial Statements”, Marketwired.com published: “Goodfellow Announces the Resignation of M. Richard Goodfellow as Director of …” on December 01, 2014. More interesting news about Goodfellow Inc. (TSE:GDL) was released by: Marketwired.com and their article: “Goodfellow Announces the Completion of the Verification Activities; the …” with publication date: November 24, 2016.

Goodfellow Inc. is a Canada-based company, which is engaged in the remanufacturing and distributing of lumber and hardwood flooring products. The company has a market cap of $81.74 million. The Firm is engaged in the wholesale distribution of wood products, and remanufacturing, distribution and brokerage of lumber. It has a 9.73 P/E ratio. The Firm offers products, including decking, flooring, lumber, insulation and sound proofing, panels, siding, and specialty and commodity panels.

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