The stock of Bonterra Energy Corp (TSE:BNE) gapped down by $0.1 today and has $22.55 target or 9.00% below today’s $24.78 share price. The 5 months technical chart setup indicates high risk for the $811.78 million company. The gap down was reported on Nov, 25 by Barchart.com. If the $22.55 price target is reached, the company will be worth $73.06M 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 13,230 shares traded hands. Bonterra Energy Corp (TSE:BNE) has risen 3.02% since April 21, 2016 and is uptrending. It has underperformed by 2.39% the S&P500.
Bonterra Energy Corp (TSE:BNE) Ratings Coverage
Out of 6 analysts covering Bonterra Energy Corp (TSE:BNE), 4 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 67% are positive. Bonterra Energy Corp has been the topic of 26 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Sector Perform” rating given by Scotia Capital on Friday, August 12. The stock has “” rating given by Raymond James on Monday, June 6. TD Securities maintained Bonterra Energy Corp (TSE:BNE) on Friday, August 12 with “Buy” rating. Scotia Capital maintained the stock with “Sector Perform” rating in Friday, November 11 report. Desjardins Securities maintained the stock with “” rating in Tuesday, June 28 report. The stock of Bonterra Energy Corp (TSE:BNE) has “Underperform” rating given on Wednesday, June 15 by IBC.
Another recent and important Bonterra Energy Corp (TSE:BNE) news was published by Marketwired.com which published an article titled: “Bonterra Energy Corp. Corporate Update” on October 29, 2015.
Bonterra Energy Corp. is an gas and oil firm that is primarily focused on the development of its Cardium land within the Pembina and Willesden Green areas located in central Alberta. The company has a market cap of $811.78 million. The Firm operates in the development and production of oil and natural gas in the Western Canadian Sedimentary Basin segment. It currently has negative earnings. The Company’s assets consist of natural gas and crude oil assets.
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