It Seems Trinidad Drilling Ltd. Will Go Up. Have Big Gap Up Today

 It Seems Trinidad Drilling Ltd. Will Go Up. Have Big Gap Up Today

The stock of Trinidad Drilling Ltd. (TSE:TDG) gapped up by $0.03 today and has $3.03 target or 21.00% above today’s $2.50 share price. The 7 months technical chart setup indicates low risk for the $559.96M company. The gap was reported on Nov, 21 by If the $3.03 price target is reached, the company will be worth $117.59M 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 374,805 shares traded hands. Trinidad Drilling Ltd. (TSE:TDG) has risen 20.41% since April 15, 2016 and is uptrending. It has outperformed by 16.55% the S&P500.

Trinidad Drilling Ltd. (TSE:TDG) Ratings Coverage

Out of 7 analysts covering Trinidad Drilling Ltd. (TSE:TDG), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $6 is the highest target while $2 is the lowest. The $3.57 average target is 42.80% above today’s ($2.5) stock price. Trinidad Drilling Ltd. has been the topic of 34 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was upgraded on Wednesday, November 18 by Raymond James. The firm has “Sector Perform” rating given on Friday, October 9 by Scotia Capital. The stock has “Buy” rating given by Paradigm Research on Tuesday, June 28. Scotia Capital maintained Trinidad Drilling Ltd. (TSE:TDG) on Tuesday, June 28 with “Sector Perform” rating. The company was downgraded on Friday, November 4 by National Bank Canada. Scotia Capital maintained it with “Outperform” rating and $5.25 target price in Wednesday, August 5 report. As per Friday, November 4, the company rating was maintained by Scotia Capital.

More recent Trinidad Drilling Ltd. (TSE:TDG) news were published by: which released: “Trinidad Drilling Ltd. Announces Amendments to Its Credit Facility and Debt …” on June 27, 2016. Also published the news titled: “Trinidad Drilling Ltd. and CanElson Drilling Inc. merger gives scale in …” on June 11, 2015.‘s news article titled: “Trinidad Drilling Ltd. Potential Takeover And Halliburton/Baker Hughes’ Role” with publication date: November 26, 2014 was also an interesting one.

Trinidad Drilling Ltd. is a Canada-based company, which operates in the drilling sector of the North American oil and natural gas industry, with activities in Canada and the United States. The company has a market cap of $559.96 million. The Firm operates through five divisions, which include Canadian Operations, US and International Operations, Manufacturing Operations, Joint Venture Operations and Corporate. It currently has negative earnings. The Canadian Operations segment is engaged in providing land drilling services to the Canadian gas and oil industry.

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.

Related posts

Leave a Comment