What’s Canadian Pacific Railway Limited Downside After Today’s Gap Down?

 What's Canadian Pacific Railway Limited Downside After Today's Gap Down?

The stock of Canadian Pacific Railway Limited (TSE:CP) gapped down by $0.37 today and has $189.14 target or 5.00% below today’s $199.09 share price. The 8 months technical chart setup indicates high risk for the $29.19B company. The gap down was reported on Nov, 28 by Barchart.com. If the $189.14 price target is reached, the company will be worth $1.46 billion 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 109,045 shares traded hands. Canadian Pacific Railway Limited (TSE:CP) has risen 6.63% since April 22, 2016 and is uptrending. It has outperformed by 0.62% the S&P500.

Canadian Pacific Railway Limited (TSE:CP) Ratings Coverage

Out of 9 analysts covering Canadian Pacific Railway Limited (TSE:CP), 7 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 78% are positive. $232 is the highest target while $129 is the lowest. The $198.23 average target is -0.43% below today’s ($199.09) stock price. Canadian Pacific Railway Limited has been the topic of 26 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was upgraded by Canaccord Genuity on Wednesday, July 22 to “Buy”. The rating was maintained by National Bank Canada on Thursday, November 19 with “Outperform”. RBC Capital Markets maintained Canadian Pacific Railway Limited (TSE:CP) on Wednesday, December 9 with “Sector Perform” rating.

More notable recent Canadian Pacific Railway Limited (TSE:CP) news were published by: Wsj.com which released: “Canadian Pacific Railway Results Miss Expectations” on October 19, 2016, also Fool.ca with their article: “Canadian Pacific Railway Limited: Has the Stock Peaked?” published on September 28, 2016, Fool.ca published: “Canadian Pacific Railway Limited Versus Canadian National Railway Company” on November 04, 2016. More interesting news about Canadian Pacific Railway Limited (TSE:CP) were released by: Business.Financialpost.com and their article: “Canadian Pacific Railway Ltd takes a hit in Q2, but bets big on grain for …” published on July 20, 2016 as well as Business.Financialpost.com‘s news article titled: “Canadian Pacific Railway Ltd is a win for Bill Ackman, no matter how you keep …” with publication date: August 04, 2016.

Canadian Pacific Railway Limited , together with its subsidiaries, operates a transcontinental railway in Canada and the United States. The company has a market cap of $29.19 billion. The Firm operates in rail transportation segment. It has a 19.76 P/E ratio. The Company’s business mix includes bulk commodities, merchandise freight and intermodal traffic over a network of approximately 12,500 miles, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the United States Northeast and Midwest regions.

CP.TO Company Profile

Canadian Pacific Railway Limited (CP), incorporated on October 1, 2001, together with its subsidiaries, operates a transcontinental railway in Canada and the United States. The Firm operates in rail transportation segment. The Company’s business mix includes bulk commodities, merchandise freight and intermodal traffic over a network of approximately 12,500 miles, serving the principal business centers of Canada from Montreal, Quebec, to Vancouver, British Columbia, and the United States Northeast and Midwest regions. The Firm transports bulk commodities, merchandise freight and intermodal traffic. Bulk commodities include Canadian grain, United States grain, coal, potash, and fertilizers and sulfur. Merchandise freight consists of finished vehicles and automotive parts, as well as forest and industrial and consumer products. Intermodal traffic consists of retail goods in overseas containers that can be transported by train, ship and truck and in domestic containers and trailers that can be moved by train and truck.

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