The stock of Trican Well Service Ltd (TSE:TCW) gapped up by $0.02 today and has $4.29 target or 47.00% above today’s $2.92 share price. The 7 months technical chart setup indicates low risk for the $548.48M company. The gap was reported on Nov, 7 by Barchart.com. If the $4.29 price target is reached, the company will be worth $257.79 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%. About 524,992 shares traded hands. Trican Well Service Ltd (TSE:TCW) has risen 144.92% since April 1, 2016 and is uptrending. It has outperformed by 142.96% the S&P500.
Trican Well Service Ltd (TSE:TCW) Ratings Coverage
Out of 9 analysts covering Trican Well Service Ltd. (TSE:TCW), 5 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 56% are positive. $5.5 is the highest target while $0.55 is the lowest. The $2.38 average target is -18.49% below today’s ($2.92) stock price. Trican Well Service Ltd. has been the topic of 48 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was downgraded by PI Financial on Friday, October 7 to “Neutral”. The firm earned “Underperform” rating on Monday, August 17 by BMO Capital Markets. The stock of Trican Well Service Ltd (TSE:TCW) has “Strong Buy” rating given on Wednesday, January 27 by Raymond James. The firm earned “Sell” rating on Thursday, January 14 by PI Financial. The firm earned “Sector Perform” rating on Tuesday, July 21 by Scotia Capital. IBC upgraded the shares of TCW in a report on Wednesday, January 13 to “Sector Performer” rating. The stock of Trican Well Service Ltd (TSE:TCW) earned “Market Perform” rating by Raymond James on Friday, October 7. The rating was downgraded by IBC on Wednesday, September 23 to “Sector Underperformer”. Paradigm Research upgraded Trican Well Service Ltd (TSE:TCW) rating on Wednesday, August 19. Paradigm Research has “Buy” rating and $1.75 price target. Canaccord Genuity upgraded the shares of TCW in a report on Monday, September 28 to “Speculative Buy” rating.
More news for Trican Well Service Ltd (TSE:TCW) were recently published by: Marketwired.com, which released: “Trican Well Service Ltd. Reports Second Quarter Results for 2016” on August 12, 2016. Marketwired.com‘s article titled: “Trican Well Service Announces Closing of $69 Million Bought Deal Financing and …” and published on June 21, 2016 is yet another important article.
Trican Well Service Ltd. is a Canada oilfield services company. The company has a market cap of $548.48 million. The Firm provides an array of specialized products, equipment, services and technology for use in the drilling, completion, stimulation and reworking of gas and oil wells in Canada, the United States, Kazakhstan, Russia and Norway, as well as limited activities in Saudi Arabia and Colombia. It currently has negative earnings. The Firm operates through three divisions: Canada, the United States and International.
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