The stock of Trican Well Service Ltd (TSE:TCW) gapped up by $0.01 today and has $5.08 target or 43.00% above today’s $3.55 share price. The 8 months technical chart setup indicates low risk for the $733.53M company. The gap was reported on Nov, 15 by Barchart.com. If the $5.08 price target is reached, the company will be worth $315.42M 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 1.08M shares traded hands. Trican Well Service Ltd (TSE:TCW) has risen 147.45% since April 11, 2016 and is uptrending. It has outperformed by 143.52% the S&P500.
Trican Well Service Ltd (TSE:TCW) Ratings Coverage
Out of 9 analysts covering Trican Well Service Ltd. (TSE:TCW), 5 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 56% are positive. $5.5 is the highest target while $0.55 is the lowest. The $2.55 average target is -28.17% below today’s ($3.55) stock price. Trican Well Service Ltd. has been the topic of 49 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Monday, October 31, the company rating was maintained by RBC Capital Markets. The rating was downgraded by RBC Capital Markets to “Sector Perform” on Monday, October 5. The rating was upgraded by Raymond James on Thursday, January 14 to “Outperform”. Cowen & Co downgraded it to “Market Perform” rating and $1 target price in Monday, September 28 report. Scotia Capital maintained the stock with “Sector Perform” rating in Friday, November 13 report. The rating was downgraded by BMO Capital Markets to “Underperform” on Monday, August 17. The stock of Trican Well Service Ltd (TSE:TCW) has “Sector Performer” rating given on Wednesday, January 13 by IBC. IBC downgraded it to “Sector Underperformer” rating and $1.50 target price in Wednesday, September 23 report. The stock has “Speculative Buy” rating given by Canaccord Genuity on Monday, September 28. On Thursday, January 14 the stock rating was downgraded by PI Financial to “Sell”.
More recent Trican Well Service Ltd (TSE:TCW) news were published by: Seekingalpha.com which released: “Trican Well Service’s (TOLWF) CEO Dale Dusterhoft on Q3 2016 Results …” on November 10, 2016. Also Marketwired.com published the news titled: “Trican Well Service Ltd. Reports Second Quarter Results for 2016” on August 12, 2016. Marketwired.com‘s news article titled: “Trican Well Service Announces Closing of $69 Million Bought Deal Financing and …” with publication date: June 21, 2016 was also an interesting one.
Trican Well Service Ltd. is a Canada oilfield services company. The company has a market cap of $733.53 million. The Firm provides an array of specialized products, equipment, services and technology for use in the drilling, completion, stimulation and reworking of gas and oil wells in Canada, the United States, Kazakhstan, Russia and Norway, as well as limited activities in Saudi Arabia and Colombia. It currently has negative earnings. The Firm operates through three divisions: Canada, the United States and International.
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