The stock of Big Bank Big Oil Split Corp. (TSE:BBO) gapped down by $0.09 today and has $5.84 target or 8.00% below today’s $6.35 share price. The 7 months technical chart setup indicates high risk for the $20.06 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $5.84 price target is reached, the company will be worth $1.60 million 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 11,380 shares traded hands. Big Bank Big Oil Split Corp. (TSE:BBO) has risen 2.22% since April 22, 2016 and is uptrending. It has underperformed by 3.80% the S&P500.
More notable recent Big Bank Big Oil Split Corp. (TSE:BBO) news were published by: Marketwired.com which released: “BlackRock(R) Canada Announces October Distributions on Big Bank Big Oil Split …” on October 20, 2016, also Marketwired.com with their article: “BlackRock(R) Canada Announces March Distributions on Big Bank Big Oil Split Corp.” published on March 21, 2016, Marketwatch.com published: “BlackRock(R) Canada Announces Details of Delisting and Mandatory Redemption of …” on October 17, 2016. More interesting news about Big Bank Big Oil Split Corp. (TSE:BBO) were released by: Wsj.com and their article: “Break Up the Big Banks? Do This First” published on February 17, 2016 as well as Bloomberg.com‘s news article titled: “Big Oil Slipped ‘Poison Pill’ as Norway Seeks to Limit Exodus” with publication date: November 22, 2016.
Big Bank Big Oil Split Corp. is a mutual fund corporation. The company has a market cap of $20.06 million. The Fund’s investment objectives for the preferred shares are to provide their holders with fixed cumulative preferential quarterly cash distributions and to return the original issue price. It currently has negative earnings. The Fund’s investment objectives for the capital shares are to provide holders of capital shares with regular monthly cash distributions and to provide holders of capital shares with the opportunity for growth in the net asset value per capital share.
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