The stock of Trican Well Service Ltd (TSE:TCW) gapped up by $0.06 today and has $4.84 target or 47.00% above today’s $3.29 share price. The 6 months technical chart setup indicates low risk for the $685.42M company. The gap was reported on Nov, 10 by Barchart.com. If the $4.84 price target is reached, the company will be worth $322.15 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 748,960 shares traded hands. Trican Well Service Ltd (TSE:TCW) has risen 172.81% since April 6, 2016 and is uptrending. It has outperformed by 167.16% 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 -27.66% below today’s ($3.29) stock price. Trican Well Service Ltd. has been the topic of 48 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Thursday, January 14 by National Bank Canada. The firm earned “Strong Buy” rating on Wednesday, January 27 by Raymond James. The firm has “Neutral” rating by PI Financial given on Friday, October 7. Cowen & Co downgraded Trican Well Service Ltd (TSE:TCW) on Monday, September 28 to “Market Perform” rating. Paradigm Research upgraded it to “Buy” rating and $1.75 target price in Wednesday, August 19 report. The firm has “Sector Perform” rating given on Tuesday, July 21 by Scotia Capital. As per Monday, October 5, the company rating was downgraded by RBC Capital Markets. The stock of Trican Well Service Ltd (TSE:TCW) has “Market Perform” rating given on Friday, October 7 by Raymond James. The company was downgraded on Monday, August 17 by BMO Capital Markets. The firm has “Hold” rating by TD Securities given on Monday, August 17.
More recent Trican Well Service Ltd (TSE:TCW) news were published by: Marketwired.com which released: “Trican Well Service Ltd. Reports Third Quarter Results for 2016” on November 09, 2016. Also Marketwired.com published the news titled: “Trican Well Service Ltd. Reports Second Quarter Results for 2016” on August 12, 2016. Marketwired.com‘s news article titled: “Trican Well Service Announces Closing of $69 Million Bought Deal Financing and …” with publication date: June 21, 2016 was also an interesting one.
Trican Well Service Ltd. is a Canada oilfield services company. The company has a market cap of $685.42 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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