The stock of ArPetrol Ltd (CVE:RPT) gapped up by $0.01 today and has $1.36 target or 147.00% above today’s $0.55 share price. The 8 months technical chart setup indicates low risk for the $12.72M company. The gap was reported on Sep, 14 by Barchart.com. If the $1.36 price target is reached, the company will be worth $18.70 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 1.85% or $0.01 on September 13, hitting $0.55. About 37,000 shares traded hands. ArPetrol Ltd (CVE:RPT) has risen 6.00% since August 15, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
ArPetrol Ltd. is a Canada-based company engaged in the exploration, development and production of oil and natural gas. The company has a market cap of $12.72 million. The Firm is involved in third-party natural gas processing in Argentina, and owns and operates a gas processing facility with a capacity of approximately 85 million cubic feet per day . It currently has negative earnings. It operates through two divisions: Oil and natural gas operations, and Corporate.
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