The stock of Snc-Lavalin Group Inc (TSE:SNC) gapped down by $0.03 today and has $53.14 target or 5.00% below today’s $55.94 share price. The 8 months technical chart setup indicates high risk for the $8.38B company. The gap down was reported on Nov, 28 by Barchart.com. If the $53.14 price target is reached, the company will be worth $419.00 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 51,574 shares traded hands. Snc-Lavalin Group Inc (TSE:SNC) has risen 20.25% since April 22, 2016 and is uptrending. It has outperformed by 14.24% the S&P500.
Snc-Lavalin Group Inc (TSE:SNC) Ratings Coverage
Out of 6 analysts covering SNC-Lavalin Group (TSE:SNC), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $70 is the highest target while $46 is the lowest. The $56 average target is 0.11% above today’s ($55.94) stock price. SNC-Lavalin Group has been the topic of 27 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was maintained by Scotia Capital on Friday, October 7 with “Outperform”. Scotia Capital maintained Snc-Lavalin Group Inc (TSE:SNC) on Tuesday, September 15 with “” rating. The stock has “Outperform” rating given by IBC on Friday, September 16. The rating was maintained by TD Securities on Friday, August 7 with “Hold”. The rating was maintained by TD Securities on Friday, November 4 with “Buy”. RBC Capital Markets maintained it with “Outperform” rating and $49 target price in Friday, January 8 report. The firm earned “Buy” rating on Thursday, August 11 by TD Securities. RBC Capital Markets maintained the stock with “Outperform” rating in Monday, August 10 report. As per Friday, August 7, the company rating was maintained by Scotia Capital.
More news for Snc-Lavalin Group Inc (TSE:SNC) were recently published by: Business.Financialpost.com, which released: “SNC Lavalin Group Inc upgraded as corruption overhang passes” on September 15, 2016. Forbes.com‘s article titled: “SNC-Lavalin Group Enters Oversold Territory (SNC)” and published on September 13, 2016 is yet another important article.
Snc-Lavalin Group Inc is a Canada-based engineering and construction company. The company has a market cap of $8.38 billion.
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