The stock of North American Energy Partners Inc. (TSE:NOA) gapped up by $0.09 today and has $12.31 target or 181.00% above today’s $4.38 share price. The 6 months technical chart setup indicates low risk for the $129.45M company. The gap was reported on Nov, 17 by Barchart.com. If the $12.31 price target is reached, the company will be worth $234.30 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 173,810 shares traded hands or 133.67% up from the average. North American Energy Partners Inc. (TSE:NOA) has risen 56.13% since April 13, 2016 and is uptrending. It has outperformed by 51.51% the S&P500.
Another recent and important North American Energy Partners Inc. (TSE:NOA) news was published by Seekingalpha.com which published an article titled: “North American Energy Partners’ (NOA) CEO Martin Ferron on Q3 2016 Results …” on November 02, 2016.
North American Energy Partners Inc. provides a range of mining and heavy construction services. The company has a market cap of $129.45 million. The Firm offers its services to clients in the resource development and industrial construction sectors, within Western Canada. It currently has negative earnings. The Firm provides construction and activities support services through various stages of an oil sands project’s lifecycle.
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