PACIFIC EXPLORATION AND PRODUCTION CORP Can’t Burn Your Short Portfolio. Just Reaches All-Time Low

 PACIFIC EXPLORATION AND PRODUCTION CORP Can't Burn Your Short Portfolio. Just Reaches All Time Low

The stock of PACIFIC EXPLORATION AND PRODUCTION CORP (TSE:PEN) reached all time low today, Nov, 15 and still has $49.73 target or 6.00% below today’s $52.90 share price. This indicates more downside for the $2.70B company. This technical setup was reported by Barchart.com. If the $49.73 PT is reached, the company will be worth $162.00M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 45,671 shares traded hands or 83.17% up from the average. PACIFIC EXPLORATION AND PRODUCTION CORP (TSE:PEN) has risen 6.00% since October 16, 2016 and is uptrending. It has outperformed by 2.07% the S&P500.

More notable recent PACIFIC EXPLORATION AND PRODUCTION CORP (TSE:PEN) news were published by: Reuters.com which released: “BRIEF-Pacific Exploration And Production Corp completes restructuring tran…” on November 02, 2016, also Wsj.com with their article: “Pacific Exploration & Production Shareholders Move to Block Buyout Bid” published on April 09, 2016, Wsj.com published: “Pacific Exploration Postpones Board Meeting on Debt Restructuring” on April 11, 2016. More interesting news about PACIFIC EXPLORATION AND PRODUCTION CORP (TSE:PEN) were released by: Businesswire.com and their article: “EIG Proposes Restructuring of Pacific Exploration & Production Corp.” published on January 14, 2016 as well as Wsj.com‘s news article titled: “Pacific Exploration & Production Considering Six Buyout Offers” with publication date: March 16, 2016.

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