After Today’s Gap Up, Is Raging River Exploration Inc’s Near-Term Analysis Positive

 After Today's Gap Up, Is Raging River Exploration Inc's Near Term Analysis Positive

The stock of Raging River Exploration Inc (TSE:RRX) gapped up by $0.07 today and has $17.35 target or 64.00% above today’s $10.58 share price. The 8 months technical chart setup indicates low risk for the $2.48B company. The gap was reported on Nov, 15 by Barchart.com. If the $17.35 price target is reached, the company will be worth $1.59B 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 102,331 shares traded hands. Raging River Exploration Inc (TSE:RRX) has risen 10.88% since April 11, 2016 and is uptrending. It has outperformed by 6.96% the S&P500.

Raging River Exploration Inc (TSE:RRX) Ratings Coverage

Out of 6 analysts covering Raging River Exploration (TSE:RRX), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. $14 is the highest target while $9 is the lowest. The $11.73 average target is 10.87% above today’s ($10.58) stock price. Raging River Exploration has been the topic of 20 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The stock of Raging River Exploration Inc (TSE:RRX) has “Sector Perform” rating given on Wednesday, November 9 by Scotia Capital. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, November 9 report. The stock of Raging River Exploration Inc (TSE:RRX) has “Outperform” rating given on Thursday, July 21 by RBC Capital Markets. The stock has “Buy” rating given by Paradigm Research on Wednesday, August 12. The firm has “Buy” rating given on Wednesday, November 9 by TD Securities. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, February 4.

Another recent and important Raging River Exploration Inc (TSE:RRX) news was published by Bloomberg.com which published an article titled: “Raging River CEO Covets Troubled Canadian Rival’s Light Oil” on March 21, 2016.

Raging River Exploration Inc is a Canada gas and oil company. The company has a market cap of $2.48 billion. The Firm is engaged in oil and natural gas production, exploitation and acquisition in the Dodsland area of southwest Saskatchewan. It has a 254.27 P/E ratio. The Company’s area of activities is located in the Viking light oil fairway at the greater Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta.

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