Is Buying Stock Like Just Energy Group Inc After Such Gap Up a Winning Strategy?

 Is Buying Stock Like Just Energy Group Inc After Such Gap Up a Winning Strategy?

The stock of Just Energy Group Inc (TSE:JE) gapped up by $0.01 today and has $9.44 target or 40.00% above today’s $6.74 share price. The 8 months technical chart setup indicates low risk for the $968.55 million company. The gap was reported on Nov, 10 by Barchart.com. If the $9.44 price target is reached, the company will be worth $387.42 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 129,155 shares traded hands. Just Energy Group Inc (TSE:JE) has declined 16.07% since April 6, 2016 and is downtrending. It has underperformed by 21.72% the S&P500.

Just Energy Group Inc (TSE:JE) Ratings Coverage

Out of 4 analysts covering Just Energy (TSE:JE), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $10.0 is the highest target while $7.50 is the lowest. The $8.67 average target is 28.64% above today’s ($6.74) stock price. Just Energy has been the topic of 12 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, December 10 by Rodman & Renshaw. The rating was maintained by RBC Capital Markets on Friday, September 16 with “Sector Perform”. As per Thursday, August 27, the company rating was downgraded by RBC Capital Markets. The stock has “Hold” rating given by TD Securities on Friday, August 14. TD Securities maintained the shares of JE in a report on Friday, August 12 with “Hold” rating. The rating was downgraded by National Bank Canada on Monday, August 17 to “Outperform”. FBR Capital initiated the shares of JE in a report on Friday, December 18 with “Outperform” rating. The firm earned “Sector Perform” rating on Friday, May 20 by RBC Capital Markets.

More notable recent Just Energy Group Inc (TSE:JE) news were published by: Marketwatch.com which released: “Just Energy Group Inc. Announces Closing of Early Redemption of $225 Million …” on November 07, 2016, also Streetinsider.com with their article: “Form 6-K Just Energy Group Inc. For: Nov 07” published on November 09, 2016, Forbes.com published: “Just Energy Group Becomes Oversold (JE)” on August 11, 2016. More interesting news about Just Energy Group Inc (TSE:JE) were released by: Finance.Yahoo.com and their article: “Just Energy Reports Second Quarter Fiscal 2017 Results” published on November 09, 2016 as well as Prnewswire.com‘s news article titled: “Just Energy Customers Now Get More in Comfort, Convenience and Control with …” with publication date: May 03, 2016.

Just Energy Group Inc. is an energy management solutions well-known provider engaged in electricity, natural gas, solar and green energy. The company has a market cap of $968.55 million. The Company’s divisions include Consumer Energy and Commercial Energy. It has a 3.23 P/E ratio. The Firm operates in the United States, Canada and the United Kingdom, offering a range of energy products, including long-term fixed-price, variable rate and flat bill programs; home energy management services, including smart thermostats and tools to manage energy use at the appliance level, and residential solar panel installations.

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