The stock of Medical Facilities Corp (TSE:DR) gapped down by $0.03 today and has $15.60 target or 5.00% below today’s $16.42 share price. The 5 months technical chart setup indicates high risk for the $492.15 million company. The gap down was reported on Dec, 1 by Barchart.com. If the $15.60 price target is reached, the company will be worth $24.61 million 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 78,396 shares traded hands. Medical Facilities Corp (TSE:DR) has declined 1.87% since April 27, 2016 and is downtrending. It has underperformed by 7.80% the S&P500.
Medical Facilities Corp (TSE:DR) Ratings Coverage
Out of 3 analysts covering Medical Facilities Corp (TSE:DR), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $25 is the highest target while $17.50 is the lowest. The $19.88 average target is 21.07% above today’s ($16.42) stock price. Medical Facilities Corp has been the topic of 6 analyst reports since August 14, 2015 according to StockzIntelligence Inc. National Bank Canada maintained Medical Facilities Corp (TSE:DR) on Monday, August 17 with “Sector Perform” rating. The stock of Medical Facilities Corp (TSE:DR) earned “Outperform” rating by RBC Capital Markets on Tuesday, November 22. The firm has “Buy” rating given on Friday, November 11 by TD Securities. TD Securities maintained the shares of DR in a report on Friday, October 7 with “Buy” rating.
Medical Facilities Corporation is a Canada company, which owns interests in over six entities , approximately five of which either own a specialty surgical hospital (SSH) or an ambulatory surgery center (ASC). The company has a market cap of $492.15 million. The Company’s Centers offer facilities, such as staff, surgical materials and supplies, and other support necessary for scheduled surgical, pain management, imaging and diagnostic procedures. It currently has negative earnings. The Centers focus on clinical specialties, such as orthopedic, neurosurgery, pain management and other non-emergency elective procedures.
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