TORC OIL AND GAS LTD Has Another Very Positive Trading Session Recording a Gap Up

 TORC OIL AND GAS LTD Has Another Very Positive Trading Session Recording a Gap Up

The stock of TORC OIL AND GAS LTD (TSE:TOG) gapped up by $0.04 today and has $10.64 target or 31.00% above today’s $8.12 share price. The 9 months technical chart setup indicates low risk for the $1.40B company. The gap was reported on Nov, 15 by Barchart.com. If the $10.64 price target is reached, the company will be worth $434.00 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 358,779 shares traded hands. TORC OIL AND GAS LTD (TSE:TOG) has declined 4.00% since April 11, 2016 and is downtrending. It has underperformed by 7.92% the S&P500.

TORC OIL AND GAS LTD (TSE:TOG) Ratings Coverage

Out of 6 analysts covering Torc Oil & Gas (TSE:TOG), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. $12 is the highest target while $5.25 is the lowest. The $8.83 average target is 8.74% above today’s ($8.12) stock price. Torc Oil & Gas has been the topic of 18 analyst reports since August 13, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Wednesday, November 9 by Scotia Capital. TD Securities maintained TORC OIL AND GAS LTD (TSE:TOG) rating on Friday, August 19. TD Securities has “Buy” rating and $10.50 price target. The firm has “Outperform” rating given on Tuesday, December 15 by RBC Capital Markets.

More news for TORC OIL AND GAS LTD (TSE:TOG) were recently published by: Business.Financialpost.com, which released: “TORC Oil & Gas Ltd leads Canadian energy stock rebound” on April 15, 2015. Marketwired.com‘s article titled: “TORC Oil & Gas Announces Strategic Acquisitions in Southeast Saskatchewan …” and published on July 25, 2016 is yet another important article.

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