The stock of Genesis Land Development Corp. (TSE:GDC) gapped up by $0.02 today and has $3.46 target or 9.00% above today’s $3.17 share price. The 8 months technical chart setup indicates low risk for the $137.29M company. The gap was reported on Dec, 1 by Barchart.com. If the $3.46 price target is reached, the company will be worth $12.36 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 61,042 shares traded hands or 548.56% up from the average. Genesis Land Development Corp. (TSE:GDC) has risen 9.09% since April 27, 2016 and is uptrending. It has outperformed by 3.17% the S&P500.
More important recent Genesis Land Development Corp. (TSE:GDC) news were published by: Theglobeandmail.com which released: “Canadian stocks with strongest insider buying” on January 11, 2013, also Reuters.com published article titled: “BRIEF-Genesis Land Development Corp announces declaration of about $10.9 m…”, Prnewswire.com published: “Lloyd I. Miller III Announces Voting Intention for Genesis Land Development …” on May 11, 2015. More interesting news about Genesis Land Development Corp. (TSE:GDC) was released by: Business.Financialpost.com and their article: “Genesis Land Development Corp. looks to the future” with publication date: September 11, 2012.
Genesis Land Development Corp. is a Canada firm engaged in the acquisition, development, and sale of land, residential lots and homes primarily in the greater Calgary area. The company has a market cap of $137.29 million. The Firm owns a portfolio of entitled residential and mixed-use land. It has a 11.23 P/E ratio. The Firm operates through two divisions: land development and home building.
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