The stock of Blackbird Energy Inc (CVE:BBI) gapped up by $0.02 today and has $1.58 target or 192.00% above today’s $0.54 share price. The 5 months technical chart setup indicates low risk for the $346.77 million company. The gap was reported on Nov, 18 by Barchart.com. If the $1.58 price target is reached, the company will be worth $665.80M 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%. The stock last traded at $0.54 per share. It is up 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.
More notable recent Blackbird Energy Inc (CVE:BBI) news were published by: Marketwired.com which released: “Blackbird Energy Inc. Announces Unit and CDE Flow-Through Common Share …” on April 25, 2016, also Marketwired.com with their article: “Blackbird Energy Inc. Announces Release of Third Quarter 2016 Financial and …” published on June 28, 2016, Marketwired.com published: “Blackbird Energy Inc. to Acquire Minority Interest in Stage Completions Inc.” on July 28, 2016. More interesting news about Blackbird Energy Inc (CVE:BBI) were released by: Marketwired.com and their article: “Blackbird Energy Inc. Announces Closing of CDE Private Placement for Proceeds …” published on November 01, 2016 as well as Marketwired.com‘s news article titled: “Blackbird Energy Inc. Announces 522% Increase in Elmworth Montney Proved Plus …” with publication date: March 08, 2016.
Blackbird Energy Inc. is a Canada-based energy company. The company has a market cap of $346.77 million. The Firm is engaged in the exploration for and the production of oil and natural gas. It has a 453.78 P/E ratio. The Company’s activities are located in Western Canada.
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