Cardinal Energy Ltd Can’t Be More Safe. Trades Significantly Higher After A Gap Up

 Cardinal Energy Ltd Can't Be More Safe. Trades Significantly Higher After A Gap Up

The stock of Cardinal Energy Ltd (TSE:CJ) gapped up by $0.12 today and has $12.75 target or 40.00% above today’s $9.11 share price. The 7 months technical chart setup indicates low risk for the $676.07M company. The gap was reported on Nov, 15 by Barchart.com. If the $12.75 price target is reached, the company will be worth $270.43M 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 72,682 shares traded hands. Cardinal Energy Ltd (TSE:CJ) has declined 1.68% since April 11, 2016 and is downtrending. It has underperformed by 5.60% the S&P500.

Cardinal Energy Ltd (TSE:CJ) Ratings Coverage

Out of 4 analysts covering Cardinal Energy (TSE:CJ), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $17 is the highest target while $7 is the lowest. The $12.36 average target is 35.68% above today’s ($9.11) stock price. Cardinal Energy has been the topic of 11 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock of Cardinal Energy Ltd (TSE:CJ) has “Neutral” rating given on Tuesday, January 12 by Dundee Securities. The stock of Cardinal Energy Ltd (TSE:CJ) has “Outperform” rating given on Tuesday, November 8 by Scotia Capital. The firm has “Buy” rating by TD Securities given on Wednesday, November 9. The stock has “Outperform” rating given by RBC Capital Markets on Tuesday, November 8.

More recent Cardinal Energy Ltd (TSE:CJ) news were published by: Marketwired.com which released: “Cardinal Energy Ltd. Confirms Monthly Dividend for November” on November 10, 2016. Also Marketwired.com published the news titled: “Cardinal Energy Ltd. Announces Second Quarter Results” on August 02, 2016. Marketwired.com‘s news article titled: “Cardinal Energy Ltd. Announces $50 Million Bought Deal Financing” with publication date: May 25, 2016 was also an interesting one.

Cardinal Energy Ltd. is a Canada-based oil-focused company. The company has a market cap of $676.07 million. The Firm is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan. It currently has negative earnings. The Company’s Wainwright properties are located approximately 200 kilometers southeast of Edmonton, Alberta.

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