Some Traders Are Very Bearish on Northern Blizzard Resources Inc After Today’s Gap Down

 Some Traders Are Very Bearish on Northern Blizzard Resources Inc After Today's Gap Down

The stock of Northern Blizzard Resources Inc (TSE:NBZ) gapped down by $0.03 today and has $2.96 target or 12.00% below today’s $3.36 share price. The 7 months technical chart setup indicates high risk for the $404.69M company. The gap down was reported on Nov, 11 by If the $2.96 price target is reached, the company will be worth $48.56M 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 109,230 shares traded hands. Northern Blizzard Resources Inc (TSE:NBZ) has declined 9.19% since April 7, 2016 and is downtrending. It has underperformed by 15.33% the S&P500.

Northern Blizzard Resources Inc (TSE:NBZ) Ratings Coverage

Out of 6 analysts covering Northern Blizzard Resources (TSE:NBZ), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. Northern Blizzard Resources has been the topic of 14 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Scotia Capital maintained it with “Sector Perform” rating and $5.75 target price in Thursday, June 9 report. The firm has “Sector Perform” rating by RBC Capital Markets given on Tuesday, December 22. The stock has “Underperform” rating given by BMO Capital Markets on Friday, September 9. The rating was initiated by GMP Securities on Tuesday, October 6 with “Buy”. The firm earned “Sector Perform” rating on Wednesday, June 15 by IBC.

More news for Northern Blizzard Resources Inc (TSE:NBZ) were recently published by:, which released: “Northern Blizzard Seeks $500 Million in IPO This Month” on July 09, 2014.‘s article titled: “Moody’s downgrades Northern Blizzard’s CFR to B2; outlook negative” and published on February 03, 2016 is yet another important article.

Northern Blizzard Resources Inc. is a Canada crude oil production and development firm focused on maximizing oil recovery from its heavy oil resource base. The company has a market cap of $404.69 million. The Firm is engaged in the exploration for and the acquisition, development and production of petroleum and natural gas reserves in western Canada. It currently has negative earnings. The Company’s properties include Cactus Lake, Winter, Court, Smiley, Coleville, Cuthbert, Thermal, Westhazel, Hearts Hill, Mantario and Senlac.

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