Could Gibson Energy Inc. Crash Even More? The Stock Just Had a Gap Down

 Could Gibson Energy Inc. Crash Even More? The Stock Just Had a Gap Down

The stock of Gibson Energy Inc. (TSE:GEI) gapped down by $0.03 today and has $15.67 target or 7.00% below today’s $16.85 share price. The 9 months technical chart setup indicates high risk for the $2.35 billion company. The gap down was reported on Oct, 31 by Barchart.com. If the $15.67 price target is reached, the company will be worth $164.50 million 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 374,731 shares traded hands or 17.08% up from the average. Gibson Energy Inc. (TSE:GEI) has declined 2.46% since March 24, 2016 and is downtrending. It has underperformed by 5.94% the S&P500.

Gibson Energy Inc. (TSE:GEI) Ratings Coverage

Out of 6 analysts covering Gibson Energy Inc (TSE:GEI), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. Gibson Energy Inc has been the topic of 28 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by FirstEnergy Capital on Tuesday, July 21. On Friday, August 7 the stock rating was maintained by Scotia Capital with “Sector Perform”. The stock of Gibson Energy Inc. (TSE:GEI) earned “Outperform” rating by Raymond James on Monday, October 5. TD Securities maintained it with “Buy” rating and $24 target price in Monday, August 10 report. The firm has “Hold” rating by TD Securities given on Thursday, November 5. The rating was maintained by Canaccord Genuity on Monday, August 10 with “Buy”. On Friday, June 3 the stock rating was maintained by National Bank Canada with “Sector Perform”. RBC Capital Markets maintained it with “Sector Perform” rating and $17 target price in Friday, June 3 report.

More news for Gibson Energy Inc. (TSE:GEI) were recently published by: Fool.ca, which released: “Worried About Oil? Buy Gibson Energy Inc.” on October 28, 2016. Fool.ca‘s article titled: “Gibson Energy Inc. Just Raised $300 Million: What Now?” and published on May 25, 2016 is yet another important article.

Gibson Energy Inc. is a Canada-based integrated service well-known provider to the gas and oil industry with activities across producing regions throughout North America. The company has a market cap of $2.35 billion. The Firm is engaged in the movement, storage, blending, processing, marketing and distribution of crude oil, condensate, natural gas liquids , water, oilfield waste and refined products. It currently has negative earnings. The Company’s divisions are Terminals and Pipelines, Environmental Services, Truck Transportation, Propane and NGL Marketing and Distribution, Processing and Wellsite Fluids, and Marketing.

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