Price Action Don’t Lie: What’s Marine Harvest ASA Upside After Today’s Gap Up?

Price Action Don't Lie: What's Marine Harvest ASA Upside After Today's Gap Up?

The stock of Marine Harvest ASA (NYSE:MHG) gapped up by $0.45 today and has $29.03 target or 62.00% above today’s $17.92 share price. The 9 months technical chart setup indicates low risk for the $7.72B company. The gap was reported on Oct, 1 by If the $29.03 price target is reached, the company will be worth $4.79B 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%. The stock increased 4.43% or $0.76 on September 30, hitting $17.92. About 93,353 shares traded hands or 4.98% up from the average. Marine Harvest ASA (NYSE:MHG) has risen 25.58% since February 29, 2016 and is uptrending. It has outperformed by 15.15% the S&P500.

According to Zacks Investment Research, “Marine Harvest ASA is involved in the production and marketing of seafood. The Company’s product portfolio comprises salmon, halibut, coated seafood, smoked seafood and elaborated seafood, among others. It operates within three segments namely Farming, Sales and MH VAP Europe. Marine Harvest ASA is based in Oslo, Norway.”

Insitutional Activity: The institutional sentiment increased to 1.13 in 2016 Q2. Its up 0.47, from 0.66 in 2016Q1. The ratio is positive, as 5 funds sold all Marine Harvest ASA shares owned while 18 reduced positions. 11 funds bought stakes while 15 increased positions. They now own 50.19 million shares or 5.30% more from 47.67 million shares in 2016Q1.
Wfg Advisors Limited Partnership holds 78 shares or 0% of its portfolio. Moreover, Eagle Global Lc has 0.06% invested in Marine Harvest ASA (NYSE:MHG) for 118,800 shares. Westfield Cap Mngmt Company Limited Partnership last reported 343,545 shares in the company. Td Asset Mngmt has invested 0% of its portfolio in Marine Harvest ASA (NYSE:MHG). Salient Lta accumulated 0.1% or 58,070 shares. Tower Research Ltd (Trc) has 0% invested in the company for 585 shares. Aperio Grp Ltd has 0.01% invested in the company for 71,031 shares. Moreover, Calvert Invest Mgmt has 0.01% invested in Marine Harvest ASA (NYSE:MHG) for 16,100 shares. Moreover, Etrade Capital Ltd Liability Com has 0.07% invested in Marine Harvest ASA (NYSE:MHG) for 73,673 shares. Moreover, Citigroup has 0% invested in Marine Harvest ASA (NYSE:MHG) for 97,736 shares. Walleye Trading Limited Company last reported 1,400 shares in the company. Fincl Bank Of New York Mellon Corp holds 0% of its portfolio in Marine Harvest ASA (NYSE:MHG) for 73,673 shares. First Interstate State Bank accumulated 0.01% or 2,800 shares. The Kansas-based Creative Planning has invested 0% in Marine Harvest ASA (NYSE:MHG). Naples Glob Advsrs Limited Liability Corporation accumulated 49,330 shares or 0.34% of the stock.

More notable recent Marine Harvest ASA (NYSE:MHG) news were published by: which released: “Marine Harvest Seeks Rare Buy Opportunities After Grieg Exit” on May 27, 2016, also with their article: “Marine Harvest ASA” published on April 18, 2011, published: “Marine Harvest’s (MHG) Q2 2016 Results – Earnings Call Transcript” on August 18, 2016. More interesting news about Marine Harvest ASA (NYSE:MHG) were released by: and their article: “Marine Harvest ASA (OSE: MHG, NYSE: MHG): 2015 Annual Report / 20-F” published on April 01, 2016 as well as‘s news article titled: “Marine Harvest: Sell Fredriksen’s Soon To Expire Salmon” with publication date: May 16, 2016.

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