Traders Are Bullish Trilogy Energy Corp After Today’s Gap Up

 Traders Are Bullish Trilogy Energy Corp After Today's Gap Up

The stock of Trilogy Energy Corp (TSE:TET) gapped up by $0.05 today and has $10.63 target or 69.00% above today’s $6.29 share price. The 6 months technical chart setup indicates low risk for the $820.29 million company. The gap was reported on Nov, 15 by Barchart.com. If the $10.63 price target is reached, the company will be worth $566.00M 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 120,820 shares traded hands. Trilogy Energy Corp (TSE:TET) has risen 55.41% since April 11, 2016 and is uptrending. It has outperformed by 51.48% the S&P500.

Trilogy Energy Corp (TSE:TET) Ratings Coverage

Out of 8 analysts covering Trilogy Energy Corp (TSE:TET), 1 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 13% are positive. $11.50 is the highest target while $3.75 is the lowest. The $6.67 average target is 6.04% above today’s ($6.29) stock price. Trilogy Energy Corp has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Wednesday, November 9 by TD Securities. Raymond James maintained Trilogy Energy Corp (TSE:TET) on Monday, June 6 with “” rating. The firm has “Neutral” rating by Dundee Securities given on Tuesday, January 12. On Monday, October 31 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The stock of Trilogy Energy Corp (TSE:TET) has “Hold” rating given on Friday, November 20 by GMP Securities. The rating was maintained by National Bank Canada on Thursday, November 26 with “Sector Perform”. The company was maintained on Tuesday, November 8 by Scotia Capital. The rating was maintained by RBC Capital Markets on Tuesday, November 8 with “Sector Perform”. The stock of Trilogy Energy Corp (TSE:TET) has “Sector Perform” rating given on Wednesday, June 15 by IBC.

More recent Trilogy Energy Corp (TSE:TET) news were published by: Marketwired.com which released: “Trilogy Energy Corp. Announces Crude Oil Emulsion Release in Kaybob Area” on October 07, 2016. Also Marketwired.com published the news titled: “Trilogy Energy Corp. Announces Financial and Operating Results for the Six …” on August 04, 2016. Cbc.ca‘s news article titled: “Trilogy Energy says oil emulsion spill in Alberta has covered 3 hectares” with publication date: October 13, 2016 was also an interesting one.

Trilogy Energy Corp. is a Canada-based petroleum and natural gas-focused energy company. The company has a market cap of $820.29 million. The Firm acquires, develops, produces and sells crude oil, natural gas and natural gas liquids. It currently has negative earnings. The Company’s gas and oil properties are located in the Kaybob area and Grande Prairie area of Alberta.

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