The stock of Tata Motors Limited (ADR) (NYSE:TTM) gapped up by $0.01 today and has $54.52 target or 33.00% above today’s $40.99 share price. The 6 months technical chart setup indicates low risk for the $26.80 billion company. The gap was reported on Oct, 4 by Barchart.com. If the $54.52 price target is reached, the company will be worth $8.84 billion 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 2.53% or $1.01 during the last trading session, hitting $40.99. About 1.19M shares traded hands. Tata Motors Limited (ADR) (NYSE:TTM) has risen 72.73% since March 1, 2016 and is uptrending. It has outperformed by 60.52% the S&P500.
Tata Motors Limited (ADR) (NYSE:TTM) Ratings Coverage
Out of 5 analysts covering TTM Tech (NYSE:TTM), 2 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 40% are positive. TTM Tech has been the topic of 8 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was maintained by Needham with “Buy” on Thursday, August 6. Credit Suisse downgraded the stock to “Neutral” rating in Monday, June 27 report. The rating was maintained by Stifel Nicolaus on Monday, January 11 with “Buy”. The firm has “Hold” rating by Zacks given on Friday, August 14. The firm has “Hold” rating by Stifel Nicolaus given on Monday, August 10. The firm has “Mkt Perform” rating by Bernstein given on Friday, September 9. As per Tuesday, November 3, the company rating was upgraded by Bernstein. The stock of Tata Motors Limited (ADR) (NYSE:TTM) earned “Sell” rating by Goldman Sachs on Monday, November 23.
According to Zacks Investment Research, “Tata Motors is India’s leading automotive manufacturer.”
More recent Tata Motors Limited (ADR) (NYSE:TTM) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on July 12, 2009. Also Quotes.Wsj.com published the news titled: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. Investorplace.com‘s news article titled: “Why Celator Pharmaceuticals Inc (CPXX), Tata Motors Limited (ADR) (TTM) and …” with publication date: May 31, 2016 was also an interesting one.
TTM Company Profile
Tata Motors Limited, incorporated on September 1, 1945, is an automobile company. The Firm is engaged in manufacture of motor vehicles. The Company’s divisions include automotive activities and all other operations. The Firm is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. The Firm markets its commercial and passenger vehicles in various countries in Africa, the Middle East, South East Asia, South Asia, Australia, and Russia and the Commonwealth of Independent States countries. The Firm operates in over 160 countries across the world.
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