Is Buying Stock Like Crew Energy Inc After Such Gap Up a Winning Strategy?

 Is Buying Stock Like Crew Energy Inc After Such Gap Up a Winning Strategy?

The stock of Crew Energy Inc (TSE:CR) gapped up by $0.08 today and has $10.79 target or 49.00% above today’s $7.24 share price. The 5 months technical chart setup indicates low risk for the $1.10 billion company. The gap was reported on Nov, 15 by Barchart.com. If the $10.79 price target is reached, the company will be worth $539.00 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 571,708 shares traded hands. Crew Energy Inc (TSE:CR) has risen 83.11% since April 11, 2016 and is uptrending. It has outperformed by 79.19% 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. $9 is the highest target while $4.25 is the lowest. The $6.87 average target is -5.11% below today’s ($7.24) stock price. Crew Energy Inc. has been the topic of 28 analyst reports since August 24, 2015 according to StockzIntelligence Inc. As per Wednesday, December 2, the company rating was upgraded by RBC Capital Markets. The rating was initiated by Canaccord Genuity on Monday, August 24 with “Buy”. The stock has “Outperform” rating given by FirstEnergy Capital on Wednesday, January 6. The firm has “Market Perform” rating by BMO Capital Markets given on Friday, February 12. The rating was maintained by Scotia Capital with “Outperform” on Friday, November 4. The stock of Crew Energy Inc (TSE:CR) has “” rating given on Monday, June 6 by Raymond James. The stock has “Outperform” rating given by Scotia Capital on Friday, September 11.

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 $1.10 billion. 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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