Traders Are Bullish SDX Energy Inc After Today’s Gap Up

 Traders Are Bullish SDX Energy Inc After Today's Gap Up

The stock of SDX Energy Inc (CVE:SDX) gapped up by $0.01 today and has $0.61 target or 50.00% above today’s $0.41 share price. The 5 months technical chart setup indicates low risk for the $32.93 million company. The gap was reported on Nov, 16 by Barchart.com. If the $0.61 price target is reached, the company will be worth $16.47M 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 198,599 shares traded hands or 304.45% up from the average. SDX Energy Inc (CVE:SDX) has risen 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.

More news for SDX Energy Inc (CVE:SDX) were recently published by: Prnewswire.com, which released: “SDX Energy Inc. – Operations Update – Staffing Changes” on November 16, 2015. Prnewswire.com‘s article titled: “SDX Energy Inc. – Operations Update – South Disouq, Egypt” and published on November 10, 2015 is yet another important article.

SDX Energy Inc., formerly Sea Dragon Energy Inc., is an gas and oil company, with a principal focus on Egypt. The company has a market cap of $32.93 million. The Firm is engaged in exploration, development and production of natural gas and crude oil liquids. It currently has negative earnings.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment