The stock of Tree Island Steel Ltd. (TSE:TSL) gapped up by $0.07 today and has $4.84 target or 3.00% above today’s $4.70 share price. The 8 months technical chart setup indicates low risk for the $146.42 million company. The gap was reported on Nov, 28 by Barchart.com. If the $4.84 price target is reached, the company will be worth $4.39 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 69,045 shares traded hands or 0.82% up from the average. Tree Island Steel Ltd. (TSE:TSL) has risen 42.90% since April 22, 2016 and is uptrending. It has outperformed by 36.89% the S&P500.
More notable recent Tree Island Steel Ltd. (TSE:TSL) news were published by: Marketwired.com which released: “Tree Island Steel Ltd. to Acquire Assets of Irving Wire Products Corporation” on November 10, 2015, also Marketwired.com with their article: “Tree Island Steel Executive Announcement” published on July 27, 2016, Marketwired.com published: “Tree Island Steel Announces Full Year 2014 Results” on February 19, 2015. More interesting news about Tree Island Steel Ltd. (TSE:TSL) were released by: Stockhouse.com and their article: “Tree Island Steel Announces Third Quarter 2016 Results” published on November 03, 2016 as well as Valuewalk.com‘s news article titled: “Guy Gottfried At Capitalize For Kids: Long Tree Island Steel” with publication date: October 23, 2014.
Tree Island Steel Ltd. is a Canada-based maker and supplier of wire products for a range of applications. The company has a market cap of $146.42 million. The Firm is engaged in making products from steel wire for a range of clients for industrial, construction, agricultural and specialty applications. It has a 7.38 P/E ratio. The Company’s products include galvanized wire, bright wire, an array of fasteners, including packaged, collated and bulk nails, stucco reinforcing products, concrete reinforcing mesh, fencing, and other fabricated wire products.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.