Surge Energy Inc Can’t Be More Safe. Trades Significantly Higher After A Gap Up

 Surge Energy Inc Can't Be More Safe. Trades Significantly Higher After A Gap Up

The stock of Surge Energy Inc (TSE:SGY) gapped up by $0.02 today and has $3.36 target or 20.00% above today’s $2.80 share price. The 7 months technical chart setup indicates low risk for the $638.42M company. The gap was reported on Nov, 15 by Barchart.com. If the $3.36 price target is reached, the company will be worth $127.68M 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 865,076 shares traded hands. Surge Energy Inc (TSE:SGY) has risen 22.37% since April 11, 2016 and is uptrending. It has outperformed by 18.45% the S&P500.

Surge Energy Inc (TSE:SGY) Ratings Coverage

Out of 9 analysts covering Surge Energy Inc (TSE:SGY), 5 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 56% are positive. $4.25 is the highest target while $2 is the lowest. The $2.90 average target is 3.57% above today’s ($2.8) stock price. Surge Energy Inc has been the topic of 20 analyst reports since November 10, 2015 according to StockzIntelligence Inc. The firm has “Sector Perform” rating given on Wednesday, September 7 by RBC Capital Markets. The company was initiated on Wednesday, June 15 by IBC. As per Friday, July 22, the company rating was maintained by Scotia Capital. Mackie reinitiated Surge Energy Inc (TSE:SGY) on Tuesday, January 12 with “Buy” rating. The rating was downgraded by Canaccord Genuity to “Speculative Buy” on Tuesday, January 19. The company was maintained on Thursday, December 10 by RBC Capital Markets. The stock of Surge Energy Inc (TSE:SGY) earned “Buy” rating by TD Securities on Friday, July 22.

More news for Surge Energy Inc (TSE:SGY) were recently published by: Business.Financialpost.com, which released: “Surge Energy Inc upgraded as active drilling pays off” on September 28, 2016. Seekingalpha.com‘s article titled: “Surge Energy Is Back On Track” and published on July 25, 2016 is yet another important article.

Surge Energy Inc. is a Canada-based gas and oil exploration, development and production company. The company has a market cap of $638.42 million. The Company’s principal oil and natural gas producing properties are located in Alberta and Saskatchewan, and focused on over three core areas: Western Alberta, Southeast Alberta and Southwest Saskatchewan. It currently has negative earnings. The properties in Northern Alberta include Valhalla/Wembley, Nipisi, Windfall and Nevis.

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