The stock of Northern Blizzard Resources Inc (TSE:NBZ) gapped down by $0.01 today and has $3.26 target or 13.00% below today’s $3.75 share price. The 7 months technical chart setup indicates high risk for the $430.86M company. The gap down was reported on Sep, 13 by Barchart.com. If the $3.26 price target is reached, the company will be worth $56.01M 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 280,960 shares traded hands or 71.60% up from the average. Northern Blizzard Resources Inc (TSE:NBZ) has risen 11.75% since February 5, 2016 and is uptrending. It has underperformed by 4.74% the S&P500.
Out of 6 analysts covering Northern Blizzard Resources (TSE:NBZ), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. Northern Blizzard Resources has been the topic of 11 analyst reports since September 23, 2015 according to StockzIntelligence Inc.
Northern Blizzard Resources Inc. is a Canada crude oil production and development firm focused on maximizing oil recovery from its heavy oil resource base. The company has a market cap of $430.86 million. The Firm is engaged in the exploration for and the acquisition, development and production of petroleum and natural gas reserves in western Canada. It currently has negative earnings. The Company’s properties include Cactus Lake, Winter, Court, Smiley, Coleville, Cuthbert, Thermal, Westhazel, Hearts Hill, Mantario and Senlac.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.