Bonterra Energy Corp’s Big Gap Up Today Points to Less Stock Risks

 Bonterra Energy Corp's Big Gap Up Today Points to Less Stock Risks

The stock of Bonterra Energy Corp (TSE:BNE) gapped up by $0.02 today and has $42.10 target or 69.00% above today’s $24.91 share price. The 6 months technical chart setup indicates low risk for the $837.77M company. The gap was reported on Nov, 15 by If the $42.10 price target is reached, the company will be worth $578.06 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 67,085 shares traded hands or 0.52% up from the average. Bonterra Energy Corp (TSE:BNE) has risen 11.00% since April 11, 2016 and is uptrending. It has outperformed by 7.07% 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. $40 is the highest target while $17.50 is the lowest. The $29.02 average target is 16.50% above today’s ($24.91) stock price. Bonterra Energy Corp has been the topic of 26 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Scotia Capital maintained it with “Sector Perform” rating and $28.50 target price in Friday, August 12 report. As per Tuesday, June 28, the company rating was maintained by Desjardins Securities. Scotia Capital maintained the stock with “Sector Perform” rating in Friday, November 11 report. On Friday, August 12 the stock rating was maintained by TD Securities with “Buy”. The stock of Bonterra Energy Corp (TSE:BNE) has “” rating given on Monday, June 6 by Raymond James. The stock of Bonterra Energy Corp (TSE:BNE) earned “Underperform” rating by IBC on Wednesday, June 15.

Another recent and important Bonterra Energy Corp (TSE:BNE) news was published by which published an article titled: “Reminder – Bonterra Energy (BNE) Goes Ex-Dividend Soon” on September 09, 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 $837.77 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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