The stock of Trican Well Service Ltd (TSE:TCW) gapped up by $0.02 today and has $4.53 target or 28.00% above today’s $3.54 share price. The 9 months technical chart setup indicates low risk for the $703.54M company. The gap was reported on Nov, 21 by Barchart.com. If the $4.53 price target is reached, the company will be worth $196.99 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%. It is down 125.66% since April 15, 2016 and is uptrending. It has outperformed by 121.80% 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 -27.97% below today’s ($3.54) stock price. Trican Well Service Ltd. has been the topic of 49 analyst reports since July 21, 2015 according to StockzIntelligence Inc. PI Financial upgraded the stock to “Buy” rating in Wednesday, January 27 report. The stock has “Market Perform” rating given by Raymond James on Tuesday, September 29. On Friday, November 13 the stock rating was maintained by Scotia Capital with “Sector Perform”. As per Monday, September 28, the company rating was downgraded by Cowen & Co. The company was maintained on Monday, October 31 by RBC Capital Markets. The stock of Trican Well Service Ltd (TSE:TCW) earned “Underperform” rating by BMO Capital Markets on Monday, August 17. The firm has “Sector Underperformer” rating by IBC given on Wednesday, September 23. Canaccord Genuity downgraded the shares of TCW in a report on Thursday, October 15 to “Hold” rating. The firm has “Strong Buy” rating given on Wednesday, January 27 by Raymond James. The firm has “Hold” rating given on Monday, August 17 by TD Securities.
More recent Trican Well Service Ltd (TSE:TCW) news were published by: Theglobeandmail.com which released: “The Globe and Mail” on March 03, 2010. 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 $703.54 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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