First Asset Canadian REIT Income Fund’s Big Gap Up Today Points to Less Stock Risks

 First Asset Canadian REIT Income Fund's Big Gap Up Today Points to Less Stock Risks

The stock of First Asset Canadian REIT Income Fund (TSE:RIT) gapped up by $0.02 today and has $15.89 target or 8.00% above today’s $14.71 share price. The 7 months technical chart setup indicates low risk for the $179.40M company. The gap was reported on Nov, 28 by Barchart.com. If the $15.89 price target is reached, the company will be worth $14.35M 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 14,925 shares traded hands. First Asset Canadian REIT Income Fund (TSE:RIT) has risen 1.74% since April 22, 2016 and is uptrending. It has underperformed by 4.28% the S&P500.

More notable recent First Asset Canadian REIT Income Fund (TSE:RIT) news were published by: Business.Financialpost.com which released: “Jonathan Chevreau: Why fund investors should get active with their ETFs” on September 08, 2015, also Theglobeandmail.com with their article: “If volatility is so low, why is portfolio risk so high?” published on August 28, 2016, Theglobeandmail.com published: “What investors should do about the Fed’s interest-rate conundrum” on August 21, 2016. More interesting news about First Asset Canadian REIT Income Fund (TSE:RIT) were released by: Forbes.com and their article: “Meet The Hedge Fund Activist Shaking Up The Market’s Best-Performing Asset Class” published on June 15, 2016 as well as Marketwired.com‘s news article titled: “Brookfield Canada Office Properties Reports First Quarter 2016 Results” with publication date: April 25, 2016.

First Asset Canadian Reit Income Fund , formerly First Asset REIT Income Fund, is a Canada closed-end investment trust. The company has a market cap of $179.40 million. The Fund’s investment objectives is to provide holders with the benefits of high monthly cash distributions together with the opportunity for capital appreciation through the active management of a diversified portfolio of real estate investment trusts (REITs) and real estate firms that are listed on Canadian stock exchanges. It has a 9.79 P/E ratio. The investment portfolio provides diversification among various real estate holdings, including apartment buildings, shopping centers, office buildings and nursing/retirement homes, among others.

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