Shawcor Ltd Gaps Up; Strong Momentum for Buyers

 Shawcor Ltd Gaps Up; Strong Momentum for Buyers

The stock of Shawcor Ltd (TSE:SCL) gapped up by $0.88 today and has $35.62 target or 7.00% above today’s $33.29 share price. The 8 months technical chart setup indicates low risk for the $2.12B company. The gap was reported on Nov, 30 by If the $35.62 price target is reached, the company will be worth $148.40M 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 72,291 shares traded hands. Shawcor Ltd (TSE:SCL) has declined 1.63% since April 26, 2016 and is downtrending. It has underperformed by 6.85% the S&P500.

Shawcor Ltd (TSE:SCL) Ratings Coverage

Out of 2 analysts covering Shawcor Ltd (TSE:SCL), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $42 is the highest target while $32 is the lowest. The $35.50 average target is 6.64% above today’s ($33.29) stock price. Shawcor Ltd has been the topic of 5 analyst reports since August 7, 2015 according to StockzIntelligence Inc. On Friday, August 7 the stock rating was maintained by TD Securities with “Buy”. The rating was maintained by BMO Capital Markets on Monday, August 10 with “Outperform”. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, August 7.

More notable recent Shawcor Ltd (TSE:SCL) news were published by: which released: “Shawcor Ltd. Acquires Lake Superior Consulting” on January 05, 2016, also with their article: “ShawCor Ltd. To Acquire Desert NDT LLC” published on May 08, 2014, published: “Shawcor Ltd. Acquires Flint Field Services’ Tubular Inspection & Management …” on November 26, 2015. More interesting news about Shawcor Ltd (TSE:SCL) were released by: and their article: “BRIEF-Shawcor Ltd posts Q3 loss per share C$2.69” published on November 09, 2016 as well as‘s news article titled: “ShawCor Ltd.’s Global Approach Suggests a Long-Term Buying Opportunity” with publication date: March 09, 2015.

Shawcor Ltd is a Canada-based energy services company. The company has a market cap of $2.12 billion. The Firm is engaged in designing, engineering, marketing and selling services and products, such as pipe coating services; flexible composite pipe; onshore and offshore pipeline corrosion and thermal protection; ultrasonic and radiographic inspection services; tubular management services; heat-shrinkable polymer tubing, and control and instrumentation wire and cable. It has a 62.18 P/E ratio. The Firm operates through the following divisions: Pipeline and Pipe Services, and Petrochemical and Industrial.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment