The stock of Globalance Dividend Growers Corp (TSE:GBF) gapped down by $0.05 today and has $7.60 target or 6.00% below today’s $8.08 share price. The 8 months technical chart setup indicates high risk for the $46.96M company. The gap down was reported on Nov, 30 by Barchart.com. If the $7.60 price target is reached, the company will be worth $2.82M 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 22,800 shares traded hands or 61.90% up from the average. Globalance Dividend Growers Corp (TSE:GBF) has risen 2.63% since April 26, 2016 and is uptrending. It has underperformed by 2.60% the S&P500.
More news for Globalance Dividend Growers Corp (TSE:GBF) were recently published by: Zacks.com, which released: “An Investor’s Guide to Dividend Aristocrat ETFs” on August 21, 2014. Fortune.com‘s article titled: “Microsoft Is the Best Dividend Stock on the Fortune 500” and published on June 21, 2016 is yet another important article.
Globalance Dividend Growers Corp. is a non-redeemable investment fund. The company has a market cap of $46.96 million. The Fund’s investment objectives are to provide equity shareholders with stable monthly cash distributions and to grow distributions over time, and enhanced long-term total return through capital appreciation of the Fund’s investment portfolio. It currently has negative earnings. The Fund focuses on investing in securities of global issuers that exhibit sustainable dividend growth, supplemented by investments in investment-grade fixed income securities to seek to reduce overall portfolio volatility.
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