What Will Happen to Raging River Exploration Inc Next? The Stock Just Gapped Up

 What Will Happen to Raging River Exploration Inc Next? The Stock Just Gapped Up

The stock of Raging River Exploration Inc (TSE:RRX) gapped up by $0.07 today and has $16.45 target or 54.00% above today’s $10.68 share price. The 8 months technical chart setup indicates low risk for the $2.40 billion company. The gap was reported on Nov, 21 by Barchart.com. If the $16.45 price target is reached, the company will be worth $1.30B 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 506,529 shares traded hands. Raging River Exploration Inc (TSE:RRX) has risen 7.99% since April 15, 2016 and is uptrending. It has outperformed by 4.13% the S&P500.

Raging River Exploration Inc (TSE:RRX) Ratings Coverage

Out of 6 analysts covering Raging River Exploration (TSE:RRX), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. $14 is the highest target while $9 is the lowest. The $11.73 average target is 9.83% above today’s ($10.68) stock price. Raging River Exploration has been the topic of 20 analyst reports since August 12, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained the shares of RRX in a report on Thursday, February 4 with “Outperform” rating. The stock of Raging River Exploration Inc (TSE:RRX) earned “Outperform” rating by RBC Capital Markets on Thursday, July 21. The rating was maintained by TD Securities with “Buy” on Wednesday, November 9. As per Wednesday, November 9, the company rating was maintained by Scotia Capital. RBC Capital Markets maintained Raging River Exploration Inc (TSE:RRX) on Wednesday, November 9 with “Outperform” rating. The firm earned “Buy” rating on Wednesday, August 12 by Paradigm Research.

Another recent and important Raging River Exploration Inc (TSE:RRX) news was published by Bloomberg.com which published an article titled: “Raging River CEO Covets Troubled Canadian Rival’s Light Oil” on March 21, 2016.

Raging River Exploration Inc is a Canada gas and oil company. The company has a market cap of $2.40 billion. The Firm is engaged in oil and natural gas production, exploitation and acquisition in the Dodsland area of southwest Saskatchewan. It has a 256.67 P/E ratio. The Company’s area of activities is located in the Viking light oil fairway at the greater Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta.

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