WSP Global Inc’s Stock Is Sell After Today’s Gap Down

 WSP Global Inc's Stock Is Sell After Today's Gap Down

The stock of WSP Global Inc (TSE:WSP) gapped down by $0.48 today and has $43.74 target or 7.00% below today’s $47.03 share price. The 9 months technical chart setup indicates high risk for the $4.69B company. The gap down was reported on Nov, 28 by If the $43.74 price target is reached, the company will be worth $328.30M 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 486,071 shares traded hands or 148.90% up from the average. WSP Global Inc (TSE:WSP) has risen 17.51% since April 22, 2016 and is uptrending. It has outperformed by 11.49% the S&P500.

WSP Global Inc (TSE:WSP) Ratings Coverage

Out of 7 analysts covering WSP Global Inc (TSE:WSP), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. $55 is the highest target while $40 is the lowest. The $48.13 average target is 2.34% above today’s ($47.03) stock price. WSP Global Inc has been the topic of 30 analyst reports since August 6, 2015 according to StockzIntelligence Inc. On Thursday, August 6 the stock rating was maintained by TD Securities with “Buy”. The rating was maintained by National Bank Canada with “Outperform” on Monday, May 2. TD Securities maintained the shares of WSP in a report on Wednesday, September 21 with “Buy” rating. Scotia Capital maintained the stock with “Sector Outperform” rating in Friday, October 30 report. Scotia Capital maintained the stock with “Outperform” rating in Wednesday, November 9 report. On Thursday, November 26 the stock rating was maintained by National Bank Canada with “Outperform”. The stock of WSP Global Inc (TSE:WSP) earned “Outperform” rating by RBC Capital Markets on Monday, September 19. The rating was downgraded by IBC to “Sector Perform” on Wednesday, May 11. The firm earned “Buy” rating on Thursday, September 17 by Desjardins Securities.

More news for WSP Global Inc (TSE:WSP) were recently published by:, which released: “The Globe and Mail” on January 02, 2014.‘s article titled: “WSP Global Inc climbs to the top of the engineering space: ‘The name to own'” and published on August 05, 2015 is yet another important article.

WSP Global Inc. is a professional services company. The company has a market cap of $4.69 billion. The Company’s divisions are Canada, Americas , EMEIA (Europe, Middle East, India and Africa) and APAC (Asia Pacific, including primarily Asia and Australia). It has a 29.9 P/E ratio. It offers services in project delivery and consulting.

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