The stock of Just Energy Group Inc (TSE:JE) gapped down by $0.01 today and has $6.36 target or 5.00% below today’s $6.69 share price. The 7 months technical chart setup indicates high risk for the $984.75 million company. The gap down was reported on Sep, 13 by Barchart.com. If the $6.36 price target is reached, the company will be worth $49.24M 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 379,008 shares traded hands or 12.42% up from the average. Just Energy Group Inc (TSE:JE) has declined 22.95% since February 5, 2016 and is downtrending. It has underperformed by 39.43% the S&P500.
Out of 4 analysts covering Just Energy Group (TSE:JE), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Just Energy Group has been the topic of 7 analyst reports since November 13, 2015 according to StockzIntelligence Inc.
Just Energy Group Inc. is an energy management solutions well-known provider engaged in electricity, natural gas, solar and green energy. The company has a market cap of $984.75 million. The Company’s divisions include Consumer Energy and Commercial Energy. It has a 3.21 P/E ratio. The Firm operates in the United States, Canada and the United Kingdom, offering a range of energy products, including long-term fixed-price, variable rate and flat bill programs; home energy management services, including smart thermostats and tools to manage energy use at the appliance level, and residential solar panel installations.
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