The stock of MBAC Fertilizer Corp (CVE:MBC) gapped up by $0.08 today and has $3.26 target or 5.00% above today’s $3.10 share price. The 9 months technical chart setup indicates low risk for the $161.68 million company. The gap was reported on Nov, 29 by Barchart.com. If the $3.26 price target is reached, the company will be worth $8.08 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 7,613 shares traded hands. MBAC Fertilizer Corp (CVE:MBC) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
More important recent MBAC Fertilizer Corp (CVE:MBC) news were published by: Marketwatch.com which released: “TSX Delisting Review – MBAC Fertilizer Corp. (symbol:MBC MBC.WT)” on April 06, 2016, also Marketwatch.com published article titled: “MBAC Fertilizer Corp.”, Marketwatch.com published: “TSX Delisting Review – MBAC Fertilizer Corp. (symbol:MBC and MBC.WT)” on June 24, 2016. More interesting news about MBAC Fertilizer Corp (CVE:MBC) was released by: Reuters.com and their article: “BRIEF-MBAC Fertilizer announces court approval of Brazilian restructuring …” with publication date: September 07, 2016.
MBAC Fertilizer Corp. is a Canada-based company, which is engaged in the mining, production and exploration of phosphate fertilizers in the Brazilian market. The company has a market cap of $161.68 million. The Firm operates the Itafos Arraias Single Super Phosphate Operations. It currently has negative earnings. The Company’s divisions include Operations, Development and Exploration, and Corporate.
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