Is Buying Stock Like Bonterra Energy Corp After Such Gap Up a Winning Strategy?

 Is Buying Stock Like Bonterra Energy Corp After Such Gap Up a Winning Strategy?

The stock of Bonterra Energy Corp (TSE:BNE) gapped up by $0.11 today and has $32.72 target or 21.00% above today’s $27.04 share price. The 6 months technical chart setup indicates low risk for the $906.13M company. The gap was reported on Oct, 19 by Barchart.com. If the $32.72 price target is reached, the company will be worth $190.29M 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 80,138 shares traded hands. Bonterra Energy Corp (TSE:BNE) has risen 27.57% since March 14, 2016 and is uptrending. It has outperformed by 22.03% the S&P500.

Bonterra Energy Corp (TSE:BNE) Ratings Coverage

Out of 6 analysts covering Bonterra Energy Corp (TSE:BNE), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. Bonterra Energy Corp has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. TD Securities maintained the stock with “Buy” rating in Friday, August 12 report. Desjardins Securities maintained the stock with “” rating in Tuesday, June 28 report. On Friday, August 12 the stock rating was maintained by Scotia Capital with “Sector Perform”. The stock of Bonterra Energy Corp (TSE:BNE) has “” rating given on Monday, June 6 by Raymond James. The rating was initiated by IBC on Wednesday, June 15 with “Underperform”.

More news for Bonterra Energy Corp (TSE:BNE) were recently published by: Marketwired.com, which released: “Bonterra Energy Corp. Confirms Cash Dividend for September 2016 Payable …” on October 03, 2016. Marketwired.com‘s article titled: “Bonterra Energy Corp. Announces Second Quarter 2016 Results” and published on August 10, 2016 is yet another important article.

Bonterra Energy Corp. is an gas and oil firm that is primarily focused on the development of its Cardium land within the Pembina and Willesden Green areas located in central Alberta. The company has a market cap of $906.13 million. The Firm operates in the development and production of oil and natural gas in the Western Canadian Sedimentary Basin segment. It currently has negative earnings. The Company’s assets consist of natural gas and crude oil assets.

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