Superior Plus Corp. Draws Bullish Attention After Its Gap Up Today

 Superior Plus Corp. Draws Bullish Attention After Its Gap Up Today

The stock of Superior Plus Corp. (TSE:SPB) gapped up by $0.01 today and has $12.48 target or 4.00% above today’s $12.00 share price. The 9 months technical chart setup indicates low risk for the $1.74B company. The gap was reported on Nov, 30 by Barchart.com. If the $12.48 price target is reached, the company will be worth $69.60 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 169,727 shares traded hands. Superior Plus Corp. (TSE:SPB) has risen 11.57% since April 26, 2016 and is uptrending. It has outperformed by 6.34% the S&P500.

Superior Plus Corp. (TSE:SPB) Ratings Coverage

Out of 7 analysts covering Superior Plus Corp. (TSE:SPB), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $16.50 is the highest target while $11 is the lowest. The $12.61 average target is 5.08% above today’s ($12) stock price. Superior Plus Corp. has been the topic of 25 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating by IBC given on Wednesday, July 6. The rating was upgraded by Cormark Securities on Monday, May 2 to “Buy”. TD Securities maintained the shares of SPB in a report on Friday, July 24 with “Action List Buy” rating. The rating was maintained by Scotia Capital with “Sector Perform” on Thursday, September 1. The company was maintained on Friday, August 12 by TD Securities. The company was maintained on Wednesday, September 21 by Scotia Capital. As per Friday, July 24, the company rating was maintained by Scotia Capital. The firm has “Outperform” rating given on Friday, October 28 by RBC Capital Markets. As per Thursday, August 20, the company rating was initiated by RBC Capital Markets. The stock of Superior Plus Corp. (TSE:SPB) has “Outperform” rating given on Friday, July 24 by Raymond James.

More important recent Superior Plus Corp. (TSE:SPB) news were published by: Reuters.com which released: “BRIEF-Superior Plus Corp announces 2016 third quarter results” on October 27, 2016, also Marketwired.com published article titled: “Superior Plus Corp. Announces 2016 Second Quarter Results”, Marketwired.com published: “Superior Plus Corp. Announces 2016 First Quarter Results” on April 28, 2016. More interesting news about Superior Plus Corp. (TSE:SPB) was released by: Marketwatch.com and their article: “Superior Plus Corp. Announces 2015 Annual and Fourth Quarter Results” with publication date: February 18, 2016.

Superior Plus Corp. is a Canada diversified business company. The company has a market cap of $1.74 billion. The Firm operates through three divisions: Energy Services, Specialty Chemicals and Construction Products Distribution. It has a 10.38 P/E ratio. Superior’s Energy Services segment provides distribution, wholesale procurement and related services in relation to propane, heating oil and other refined fuels under Canadian propane division and U.S. refined fuels division.

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