The stock of tronc Inc (NASDAQ:TRNC) gapped up by $0.44 today and has $23.63 target or 35.00% above today’s $17.50 share price. The 9 months technical chart setup indicates low risk for the $655.49 million company. The gap was reported on Oct, 4 by Barchart.com. If the $23.63 price target is reached, the company will be worth $229.42 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%. The stock increased 3.67% or $0.62 during the last trading session, hitting $17.5. About 937,366 shares traded hands or 448.47% up from the average. tronc Inc (NASDAQ:TRNC) has risen 105.88% since March 1, 2016 and is uptrending. It has outperformed by 93.67% the S&P500.
Analysts await tronc Inc (NASDAQ:TRNC) to report earnings on November, 3.
According to Zacks Investment Research, “Tronc, Inc. is a media company. The Company offers sports, entertainment, business, real estate and travel news and information primarily in the United States. Its portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets. Tronc, Inc., formerly known as Tribune Publishing Company, is based in CHICAGO, United States.”
More notable recent tronc Inc (NASDAQ:TRNC) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on June 20, 2016, also Seekingalpha.com with their article: “Report: Gannett deal for Tronc could arrive this morning” published on October 03, 2016, Wsj.com published: “Tribune Publishing Just Changed Its Name to ‘tronc'” on June 02, 2016. More interesting news about tronc Inc (NASDAQ:TRNC) were released by: Businesswire.com and their article: “tronc, Inc. Schedules Second Quarter 2016 Earnings on August 3, 2016” published on July 26, 2016 as well as Businesswire.com‘s news article titled: “tronc, Inc. Raises Full Year Revenue and Adjusted EBITDA Guidance” with publication date: August 03, 2016.
TRNC Company Profile
tronc, Inc., formerly Tribune Publishing Company, incorporated on November 21, 2013, is a content curation and monetization firm focused on creating and distributing content across all channels. The Company’s portfolio of news and information brands includes daily and weekly titles, digital properties and verticals in markets across the country. The Company’s brands are sources of local news and information across all platforms, including print, online, mobile and social, in the markets they serve.
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