What Will Happen to Gran Tierra Energy Inc. Next? The Stock Just Gapped Down

 What Will Happen to Gran Tierra Energy Inc. Next? The Stock Just Gapped Down

The stock of Gran Tierra Energy Inc. (TSE:GTE) gapped down by $0.22 today and has $3.80 target or 3.00% below today’s $3.92 share price. The 8 months technical chart setup indicates high risk for the $1.36 billion company. The gap down was reported on Nov, 22 by Barchart.com. If the $3.80 price target is reached, the company will be worth $40.80 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 927,259 shares traded hands or 52.31% up from the average. Gran Tierra Energy Inc. (TSE:GTE) has risen 26.79% since April 18, 2016 and is uptrending. It has outperformed by 22.23% the S&P500.

Gran Tierra Energy Inc. (TSE:GTE) Ratings Coverage

Out of 7 analysts covering Gran Tierra Energy (TSE:GTE), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $6 is the highest target while $2.10 is the lowest. The $4.30 average target is 9.69% above today’s ($3.92) stock price. Gran Tierra Energy has been the topic of 14 analyst reports since September 2, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Friday, December 18 by Scotia Capital. As per Wednesday, August 24, the company rating was maintained by Scotia Capital. The stock has “Action List Buy” rating given by TD Securities on Tuesday, November 8. The stock of Gran Tierra Energy Inc. (TSE:GTE) earned “Action List Buy” rating by TD Securities on Wednesday, November 16.

More notable recent Gran Tierra Energy Inc. (TSE:GTE) news were published by: Reuters.com which released: “BRIEF-Gran Tierra Energy Inc announces US $130 mln bought-deal public of…” on November 21, 2016, also Marketwatch.com with their article: “Gran Tierra Energy Inc. Announces Colombian Peso Hedging Program” published on June 08, 2016, Marketwatch.com published: “Gran Tierra Energy Inc. and Petroamerica Oil Corp. Announce Closing of …” on January 13, 2016. More interesting news about Gran Tierra Energy Inc. (TSE:GTE) were released by: Marketwired.com and their article: “Gran Tierra Energy Inc. Announces Closing of PetroLatina Energy Ltd. Acquisition” published on August 23, 2016 as well as Marketwatch.com‘s news article titled: “Gran Tierra Energy Inc. Announces Second Quarter 2016 Results Highlighted by …” with publication date: August 08, 2016.

Gran Tierra Energy Inc. is an energy firm engaged in gas and oil acquisition, exploration, development and production. The company has a market cap of $1.36 billion. The Firm focuses on onshore gas and oil properties in Colombia, and also own rights to gas and oil properties in Brazil and Peru. It currently has negative earnings. The Company’s divisions are Colombia, Peru and Brazil based on geographic organization.

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