Bearish Gap Down for Black Diamond Group Ltd After Worse Fundamentals

 Bearish Gap Down for Black Diamond Group Ltd After Worse Fundamentals

The stock of Black Diamond Group Ltd (TSE:BDI) gapped down by $0.01 today and has $2.98 target or 3.00% below today’s $3.07 share price. The 6 months technical chart setup indicates high risk for the $133.20 million company. The gap down was reported on Nov, 29 by Barchart.com. If the $2.98 price target is reached, the company will be worth $4.00 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 83,195 shares traded hands. Black Diamond Group Ltd (TSE:BDI) has declined 25.35% since April 25, 2016 and is downtrending. It has underperformed by 30.61% the S&P500.

Black Diamond Group Ltd (TSE:BDI) Ratings Coverage

Out of 6 analysts covering Black Diamond Group Ltd. (TSE:BDI), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $20 is the highest target while $4.75 is the lowest. The $9.94 average target is 223.78% above today’s ($3.07) stock price. Black Diamond Group Ltd. has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Sector Perform” rating given by Scotia Capital on Wednesday, November 9. The company was maintained on Friday, August 14 by Scotia Capital. The firm has “Sector Perform” rating given on Friday, August 14 by RBC Capital Markets. The company was maintained on Friday, August 14 by Raymond James. The stock of Black Diamond Group Ltd (TSE:BDI) has “Sector Perform” rating given on Friday, September 11 by IBC. The firm has “Outperform” rating by Raymond James given on Thursday, November 12. The firm has “Outperform” rating given on Thursday, September 10 by BMO Capital Markets. Raymond James upgraded it to “Outperform” rating and $13.75 target price in Tuesday, August 25 report.

More news for Black Diamond Group Ltd (TSE:BDI) were recently published by: Seekingalpha.com, which released: “Black Diamond Group Limited: A Heavily Misunderstood Stock By Mr. Market” on November 28, 2016. Marketwired.com‘s article titled: “Black Diamond Group Limited Announces November Dividend and Provides Guidance …” and published on November 21, 2016 is yet another important article.

Black Diamond Group Limited is a Canada company, which rents and sells modular workforce accommodation and space rental solutions to clients in Canada, the United States and Australia. The company has a market cap of $133.20 million. The Firm offers lodging and other support services related to remote workforce accommodation and space rentals. It currently has negative earnings. It operates through the divisions, including Structures, Logistics, Energy Services and International.

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