The stock of Parkland Fuel Corp (TSE:PKI) gapped down by $0.14 today and has $26.89 target or 4.00% below today’s $28.01 share price. The 6 months technical chart setup indicates high risk for the $2.67 billion company. The gap down was reported on Nov, 29 by Barchart.com. If the $26.89 price target is reached, the company will be worth $106.80M 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 28,412 shares traded hands. Parkland Fuel Corp (TSE:PKI) has risen 18.12% since April 25, 2016 and is uptrending. It has outperformed by 12.86% the S&P500.
Parkland Fuel Corp (TSE:PKI) Ratings Coverage
Out of 4 analysts covering Parkland Fuel Corp (TSE:PKI), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. $31 is the highest target while $23 is the lowest. The $27.50 average target is -1.82% below today’s ($28.01) stock price. Parkland Fuel Corp has been the topic of 9 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock has “Sector Perform” rating given by IBC on Monday, August 10. TD Securities maintained Parkland Fuel Corp (TSE:PKI) rating on Friday, July 22. TD Securities has “Hold” rating and $24 price target. The firm has “Sector Performer” rating by IBC given on Monday, November 9. As per Tuesday, January 19, the company rating was initiated by RBC Capital Markets. The stock has “Sector Outperformer” rating given by IBC on Friday, August 21. The firm has “Sector Perform” rating given on Thursday, October 20 by RBC Capital Markets.
More news for Parkland Fuel Corp (TSE:PKI) were recently published by: Reuters.com, which released: “Parkland Fuel Corp to buy Canada’s Pioneer Energy” on September 17, 2014. Businesswire.com‘s article titled: “Parkland Fuel Corporation Announces November 2016 Dividend” and published on November 11, 2016 is yet another important article.
Parkland Fuel Corporation distributes and markets fuels and lubricants. The company has a market cap of $2.67 billion. The Firm delivers refined fuels and other petroleum products to motorists, businesses, clients and wholesale customers. It has a 45.3 P/E ratio. The Company’s divisions include Retail Fuels, Commercial Fuels, Parkland USA, Supply and Wholesale, and Corporate.
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