Is Major Move Coming For DH Corp After This Gap Up?

 Is Major Move Coming For DH Corp After This Gap Up?

The stock of DH Corp (TSE:DH) gapped up by $0.1 today and has $20.44 target or 9.00% above today’s $18.75 share price. The 6 months technical chart setup indicates low risk for the $2.05B company. The gap was reported on Nov, 30 by Barchart.com. If the $20.44 price target is reached, the company will be worth $184.50M 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 1.07M shares traded hands. DH Corp (TSE:DH) has declined 52.54% since April 26, 2016 and is downtrending. It has underperformed by 57.77% the S&P500.

DH Corp (TSE:DH) Ratings Coverage

Out of 6 analysts covering DH Corporation (TSE:DH), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. $51 is the highest target while $18 is the lowest. The $24.71 average target is 31.79% above today’s ($18.75) stock price. DH Corporation has been the topic of 25 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of DH Corp (TSE:DH) has “Strong Buy” rating given on Friday, August 28 by Raymond James. National Bank Canada downgraded DH Corp (TSE:DH) on Thursday, November 3 to “Sector Perform” rating. The stock has “Outperform” rating given by Scotia Capital on Wednesday, July 29. Scotia Capital maintained the shares of DH in a report on Friday, November 11 with “Sector Perform” rating. RBC Capital Markets maintained DH Corp (TSE:DH) rating on Wednesday, November 2. RBC Capital Markets has “Sector Perform” rating and $26 price target. The stock of DH Corp (TSE:DH) earned “Outperform” rating by National Bank Canada on Tuesday, October 27. The company was upgraded on Tuesday, November 22 by TD Securities. The stock of DH Corp (TSE:DH) earned “Action Buy List” rating by TD Securities on Wednesday, October 28. The stock of DH Corp (TSE:DH) earned “Sector Perform” rating by Scotia Capital on Wednesday, November 2.

More important recent DH Corp (TSE:DH) news were published by: Bnn.ca which released: “DH Corp. to slash dividend 62.5% amid ‘strategic transformation'” on November 21, 2016, also Business.Financialpost.com published article titled: “DH Corp upgraded after dividend cut”, Seekingalpha.com published: “Will DH Corp. Bounce Your Cheque?” on November 01, 2016. More interesting news about DH Corp (TSE:DH) was released by: Seekingalpha.com and their article: “DH Corporation’s (DHIFF) CEO Gerrard Schmid on Q3 2016 Results – Earnings Call …” with publication date: October 26, 2016.

DH Corporation, formerly Davis + Henderson Corporation, is a Canada financial technology provider. The company has a market cap of $2.05 billion. The Firm offers lending and payments solutions in Canada, and lending and integrated core solutions in the United States. It has a 49.93 P/E ratio. The Company’s divisions include Global Transaction Banking Solutions , which comprises its activities in the United States and other international locations; Canadian segment, which comprises its activities in Canada; Lending & Integrated Core (L&IC) segment, which comprises its activities in the United States, and Corporate.

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