The stock of Bonterra Energy Corp (TSE:BNE) gapped down by $0.06 today and has $21.59 target or 7.00% below today’s $23.21 share price. The 9 months technical chart setup indicates high risk for the $737.79 million company. The gap down was reported on Nov, 11 by Barchart.com. If the $21.59 price target is reached, the company will be worth $51.65 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 50,458 shares traded hands. Bonterra Energy Corp (TSE:BNE) has risen 19.73% since April 7, 2016 and is uptrending. It has outperformed by 13.58% the S&P500.
Bonterra Energy Corp (TSE:BNE) Ratings Coverage
Out of 6 analysts covering Bonterra Energy Corp (TSE:BNE), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. Bonterra Energy Corp has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Bonterra Energy Corp (TSE:BNE) has “Underperform” rating given on Wednesday, June 15 by IBC. Raymond James maintained it with “” rating and $32 target price in Monday, June 6 report. The rating was maintained by TD Securities on Friday, August 12 with “Buy”. The stock of Bonterra Energy Corp (TSE:BNE) has “” rating given on Tuesday, June 28 by Desjardins Securities. As per Friday, August 12, the company rating was maintained by Scotia Capital.
Another recent and important Bonterra Energy Corp (TSE:BNE) news was published by Forbes.com which published an article titled: “Reminder – Bonterra Energy (BNE) Goes Ex-Dividend Soon” on October 11, 2016.
Bonterra Energy Corp. is an gas and oil firm that is primarily focused on the development of its Cardium land within the Pembina and Willesden Green areas located in central Alberta. The company has a market cap of $737.79 million. The Firm operates in the development and production of oil and natural gas in the Western Canadian Sedimentary Basin segment. It currently has negative earnings. The Company’s assets consist of natural gas and crude oil assets.
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