What Will Happen to Canyon Services Group Inc Next? The Stock Just Gapped Up

 What Will Happen to Canyon Services Group Inc Next? The Stock Just Gapped Up

The stock of Canyon Services Group Inc (TSE:FRC) gapped up by $0.04 today and has $7.82 target or 51.00% above today’s $5.18 share price. The 8 months technical chart setup indicates low risk for the $424.29M company. The gap was reported on Nov, 7 by Barchart.com. If the $7.82 price target is reached, the company will be worth $216.39 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 132,815 shares traded hands. Canyon Services Group Inc (TSE:FRC) has risen 46.09% since April 1, 2016 and is uptrending. It has outperformed by 44.13% the S&P500.

Canyon Services Group Inc (TSE:FRC) Ratings Coverage

Out of 7 analysts covering Canyon Services Group Inc. (TSE:FRC), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $10.5 is the highest target while $4.50 is the lowest. The $7.35 average target is 41.89% above today’s ($5.18) stock price. Canyon Services Group Inc. has been the topic of 22 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was maintained on Friday, September 9 by TD Securities. On Friday, May 6 the stock rating was maintained by Scotia Capital with “Sector Perform”. The rating was upgraded by Raymond James on Tuesday, September 8 to “Outperform”. On Tuesday, July 21 the stock rating was upgraded by Scotia Capital to “Sector Perform”. The company was maintained on Tuesday, August 25 by IBC. The company was upgraded on Tuesday, August 4 by Canaccord Genuity. The stock of Canyon Services Group Inc (TSE:FRC) has “Buy” rating given on Tuesday, August 4 by TD Securities.

Another recent and important Canyon Services Group Inc (TSE:FRC) news was published by Seekingalpha.com which published an article titled: “Canyon Services Group’s (CYSVF) CEO Brad Fedora on Q3 2016 Results – Earnings …” on November 05, 2016.

Canyon Services Group Inc. provides stimulation and fluid management services to gas and oil exploration and production companies operating in the Western Canadian Sedimentary Basin. The company has a market cap of $424.29 million. The Company’s divisions include Pressure Pumping Services and Fluid Management Services. It currently has negative earnings. Pressure pumping services include hydraulic fracturing, nitrogen fracturing, coiled tubing, chemical stimulation and cementing.

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