After Today’s Gap Up, Is Bonavista Energy Corp’s Near-Term Analysis Positive

 After Today's Gap Up, Is Bonavista Energy Corp's Near Term Analysis Positive

The stock of Bonavista Energy Corp (TSE:BNP) gapped up by $0.01 today and has $4.76 target or 7.00% above today’s $4.45 share price. The 5 months technical chart setup indicates low risk for the $1.12 billion company. The gap was reported on Nov, 22 by Barchart.com. If the $4.76 price target is reached, the company will be worth $78.40M 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 165,502 shares traded hands. Bonavista Energy Corp (TSE:BNP) has risen 74.71% since April 18, 2016 and is uptrending. It has outperformed by 70.15% the S&P500.

Bonavista Energy Corp (TSE:BNP) Ratings Coverage

Out of 4 analysts covering Bonavista Energy (TSE:BNP), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $9.25 is the highest target while $2.25 is the lowest. The $4.90 average target is 10.11% above today’s ($4.45) stock price. Bonavista Energy has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Bonavista Energy Corp (TSE:BNP) has “Sector Perform” rating given on Friday, June 17 by Scotia Capital. The firm earned “” rating on Tuesday, June 28 by Desjardins Securities. As per Friday, November 4, the company rating was maintained by TD Securities. The stock of Bonavista Energy Corp (TSE:BNP) earned “Sector Perform” rating by Scotia Capital on Friday, November 4. The company was maintained on Friday, November 4 by National Bank Canada. RBC Capital Markets maintained the shares of BNP in a report on Friday, October 28 with “Sector Perform” rating. The stock of Bonavista Energy Corp (TSE:BNP) has “Sector Perform” rating given on Friday, January 29 by RBC Capital Markets. The rating was downgraded by Raymond James on Tuesday, January 12 to “Market Perform”.

More important recent Bonavista Energy Corp (TSE:BNP) news were published by: Business.Financialpost.com which released: “Bonavista Energy Corp upgraded as new assets ‘fit like a glove'” on September 07, 2016, also Marketwired.com published article titled: “Bonavista Energy Corporation Announces 2016 Second Quarter Results”, Fool.ca published: “Bonavista Energy Corporation Is Your Best Bet With Volatile Oil Prices” on June 23, 2015. More interesting news about Bonavista Energy Corp (TSE:BNP) was released by: Seekingalpha.com and their article: “Is There Any Value Left In Bonavista Energy?” with publication date: May 03, 2016.

Bonavista Energy Corporation is a resource firm engaged in the acquisition, exploration, development and production of oil and natural gas assets. The company has a market cap of $1.12 billion. The Company’s West Central Core Area is characterized by natural gas and light oil resources. It currently has negative earnings. West Central Core Area is located within the Western Canadian Sedimentary Basin between Calgary and Drayton Valley, Alberta.

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