Today Xtreme Drilling Corp Stock Increases. What To Expect?

 Today Xtreme Drilling Corp Stock Increases. What To Expect?

The stock of Xtreme Drilling Corp (TSE:XDC) gapped up by $0.04 today and has $5.14 target or 87.00% above today’s $2.75 share price. The 7 months technical chart setup indicates low risk for the $231.36 million company. The gap was reported on Oct, 18 by Barchart.com. If the $5.14 price target is reached, the company will be worth $201.28M 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%. About 77,500 shares traded hands or 112.28% up from the average. Xtreme Drilling Corp (TSE:XDC) has risen 61.68% since March 11, 2016 and is uptrending. It has outperformed by 56.19% the S&P500.

Xtreme Drilling Corp (TSE:XDC) Ratings Coverage

Out of 2 analysts covering Xtreme Drilling and Coil Services Corp (TSE:XDC), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $3.75 is the highest target while $2.75 is the lowest. The $3.25 average target is 18.18% above today’s ($2.75) stock price. Xtreme Drilling and Coil Services Corp has been the topic of 2 analyst reports since October 14, 2015 according to StockzIntelligence Inc.

More important recent Xtreme Drilling Corp (TSE:XDC) news were published by: Streetinsider.com which released: “Schlumberger Ltd. (SLB) to Acquire Assets of Xtreme Drilling’s XSR Coiled …” on April 27, 2016, also Marketwired.com published article titled: “Xtreme Drilling and Coil Services Corp. Announces Name Change to Xtreme …”, Marketwired.com published: “Xtreme Drilling and Coil Services Corp. Announces Completion of Sale of XSR …” on June 23, 2016. More interesting news about Xtreme Drilling Corp (TSE:XDC) was released by: Seekingalpha.com and their article: “Xtreme Coil Drilling: Drilling Into Cash Flows During The Downturn (XTMCF)” with publication date: July 23, 2015.

Xtreme Drilling Corp, formerly Xtreme Drilling and Coil Services Corp, is a Canada firm engaged in the gas and oil drilling industry. The company has a market cap of $231.36 million. The Company’s divisions are Drilling Services, Coil Services and Corporate and Other. It currently has negative earnings. The Drilling Services segment operates a fleet of drilling rigs contracted with oil and natural gas exploration, and production companies and oilfield service providers.

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