Could Blackbird Energy Inc See a Reversal After Breaking Its 52-Week High?

 Could Blackbird Energy Inc See a Reversal After Breaking Its 52 Week High?

The stock of Blackbird Energy Inc (CVE:BBI) hit a new 52-week high and has $0.92 target or 130.00% above today’s $0.40 share price. The 8 months bullish chart indicates low risk for the $214.52M company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $0.92 price target is reached, the company will be worth $278.88M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.97M shares traded hands or 183.57% up from the average. Blackbird Energy Inc (CVE:BBI) has risen 6.00% since September 17, 2016 and is uptrending. It has outperformed by 0.39% the S&P500.

More notable recent Blackbird Energy Inc (CVE:BBI) news were published by: Marketwired.com which released: “Blackbird Energy Inc. Announces Unit and CDE Flow-Through Common Share …” on April 25, 2016, also Marketwired.com with their article: “Blackbird Energy Inc. to Acquire Minority Interest in Stage Completions Inc.” published on July 28, 2016, Marketwired.com published: “Blackbird Energy Inc. to Present at the IPAA Oil and Gas Investment Symposium” on September 20, 2016. More interesting news about Blackbird Energy Inc (CVE:BBI) were released by: Marketwired.com and their article: “Blackbird Energy Inc. Announces Regulatory Approval for Its Infrastructure …” published on September 29, 2016 as well as Marketwired.com‘s news article titled: “Blackbird Energy Inc. Receives Final TSX-V Approval for Acquisition of …” with publication date: September 22, 2016.

Blackbird Energy Inc. is a Canada-based company, engaged in the acquisition, development and production of petroleum and gas interests. The company has a market cap of $214.52 million. The Firm holds 100% Working Interest in 127 sections of the Elmworth project located in the Elmworth area of Alberta. It currently has negative earnings. It also holds 100% interest in the 2.1 section Mantario Heavy Oil project.

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