Does Northern Blizzard Resources Inc Have Any Gas After Today’s Gap Up?

 Does Northern Blizzard Resources Inc Have Any Gas After Today's Gap Up?

The stock of Northern Blizzard Resources Inc (TSE:NBZ) gapped up by $0.04 today and has $7.95 target or 112.00% above today’s $3.75 share price. The 7 months technical chart setup indicates low risk for the $459.37 million company. The gap was reported on Nov, 21 by Barchart.com. If the $7.95 price target is reached, the company will be worth $514.49M 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 210,418 shares traded hands or 34.51% up from the average. Northern Blizzard Resources Inc (TSE:NBZ) has declined 11.39% since April 15, 2016 and is downtrending. It has underperformed by 15.25% the S&P500.

Northern Blizzard Resources Inc (TSE:NBZ) Ratings Coverage

Out of 6 analysts covering Northern Blizzard Resources (TSE:NBZ), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. $13 is the highest target while $4 is the lowest. The $4.88 average target is 30.13% above today’s ($3.75) stock price. Northern Blizzard Resources has been the topic of 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Thursday, June 9 the stock rating was maintained by Scotia Capital with “Sector Perform”. RBC Capital Markets initiated Northern Blizzard Resources Inc (TSE:NBZ) rating on Tuesday, December 22. RBC Capital Markets has “Sector Perform” rating and $5.50 price target. IBC initiated Northern Blizzard Resources Inc (TSE:NBZ) on Wednesday, June 15 with “Sector Perform” rating. The firm earned “Underperform” rating on Friday, September 9 by BMO Capital Markets. The firm has “Buy” rating given on Tuesday, October 6 by GMP Securities.

More news for Northern Blizzard Resources Inc (TSE:NBZ) were recently published by: Reuters.com, which released: “BRIEF-Northern Blizzard Resources Inc. announces third quarter 2016 result…” on November 14, 2016. Bloomberg.com‘s article titled: “Northern Blizzard Seeks $500 Million in IPO This Month” and published on July 09, 2014 is yet another important article.

Northern Blizzard Resources Inc. is a Canada crude oil production and development firm focused on maximizing oil recovery from its heavy oil resource base. The company has a market cap of $459.37 million. The Firm is engaged in the exploration for and the acquisition, development and production of petroleum and natural gas reserves in western Canada. It currently has negative earnings. The Company’s properties include Cactus Lake, Winter, Court, Smiley, Coleville, Cuthbert, Thermal, Westhazel, Hearts Hill, Mantario and Senlac.

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