The stock of Crew Energy Inc (TSE:CR) gapped down by $0.07 today and has $6.02 target or 9.00% below today’s $6.61 share price. The 5 months technical chart setup indicates high risk for the $923.96M company. The gap down was reported on Nov, 11 by Barchart.com. If the $6.02 price target is reached, the company will be worth $83.16M 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 327,806 shares traded hands. Crew Energy Inc (TSE:CR) has risen 83.70% since April 7, 2016 and is uptrending. It has outperformed by 77.55% the S&P500.
Crew Energy Inc (TSE:CR) Ratings Coverage
Out of 6 analysts covering Crew Energy Inc. (TSE:CR), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. Crew Energy Inc. has been the topic of 28 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Scotia Capital given on Friday, November 4. The firm has “Outperform” rating by FirstEnergy Capital given on Wednesday, January 6. The stock of Crew Energy Inc (TSE:CR) earned “Buy” rating by Canaccord Genuity on Monday, August 24. The stock has “Outperform” rating given by Scotia Capital on Friday, September 11. RBC Capital Markets upgraded the stock to “Sector Outperform” rating in Wednesday, December 2 report. As per Friday, February 12, the company rating was initiated by BMO Capital Markets. The rating was maintained by Raymond James with “” on Monday, June 6.
Another recent and important Crew Energy Inc (TSE:CR) news was published by Marketwired.com which published an article titled: “Crew Energy Inc. Announces Third Quarter 2016 Financial and Operating Results …” on November 03, 2016.
Crew Energy Inc. is an oil and gas exploration, development and production company. The company has a market cap of $923.96 million. The Firm conducts its activities in the Western Canadian Sedimentary basin, primarily in the provinces of Alberta, British Columbia and Saskatchewan. It currently has negative earnings. The Company’s activities are primarily focused in the vast Montney resource situated in northeast British Columbia.
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