Is Buying Stock Like Paramount Resources, Ltd. After Such Gap Up a Winning Strategy?

 Is Buying Stock Like Paramount Resources, Ltd. After Such Gap Up a Winning Strategy?

The stock of Paramount Resources, Ltd. (TSE:POU) gapped up by $0.1 today and has $25.29 target or 54.00% above today’s $16.42 share price. The 6 months technical chart setup indicates low risk for the $1.80B company. The gap was reported on Nov, 15 by If the $25.29 price target is reached, the company will be worth $972.00 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 140,731 shares traded hands. Paramount Resources, Ltd. (TSE:POU) has risen 114.53% since April 11, 2016 and is uptrending. It has outperformed by 110.60% the S&P500.

Paramount Resources, Ltd. (TSE:POU) Ratings Coverage

Out of 8 analysts covering Paramount Resources Ltd. (TSE:POU), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. $40 is the highest target while $4 is the lowest. The $14.60 average target is -11.08% below today’s ($16.42) stock price. Paramount Resources Ltd. has been the topic of 36 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Monday, August 10, the company rating was maintained by Raymond James. The firm earned “Outperform” rating on Thursday, November 5 by Raymond James. The stock has “Neutral” rating given by Dundee Securities on Tuesday, January 12. The rating was maintained by Raymond James on Monday, June 6 with “”. National Bank Canada initiated the shares of POU in a report on Tuesday, July 21 with “Outperform” rating. FirstEnergy Capital maintained Paramount Resources, Ltd. (TSE:POU) on Monday, August 10 with “Market Perform” rating. On Monday, August 22 the stock rating was maintained by Credit Suisse with “Neutral”. The firm earned “Buy” rating on Friday, August 7 by TD Securities.

More recent Paramount Resources, Ltd. (TSE:POU) news were published by: which released: “Paramount Resources Said to Explore Midstream Asset Options” on December 07, 2015. Also published the news titled: “Paramount Resources acquires 10 per cent of Seven Generations Energy in $1.9 …” on July 06, 2016.‘s news article titled: “Paramount Resources Ltd. Announces the Closing of its Annual Bank Credit …” with publication date: June 13, 2016 was also an interesting one.

Paramount Resources Ltd. is engaged in exploring and developing conventional petroleum and natural gas prospects, which pursues non-conventional exploration and pre-development projects and holds a portfolio of investments in other entities. The company has a market cap of $1.80 billion. The Company’s principal properties are primarily located in Alberta, British Columbia and Northwest Territories. It has a 5.01 P/E ratio. The Firm operates in three business divisions: Principal Properties, Strategic Investments and Corporate.

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