The stock of Nuvista Energy Ltd (TSE:NVA) gapped down by $0.02 today and has $6.28 target or 8.00% below today’s $6.83 share price. The 9 months technical chart setup indicates high risk for the $1.17 billion company. The gap down was reported on Nov, 25 by Barchart.com. If the $6.28 price target is reached, the company will be worth $93.60M 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 93,040 shares traded hands. Nuvista Energy Ltd (TSE:NVA) has risen 31.40% since April 21, 2016 and is uptrending. It has outperformed by 25.99% the S&P500.
Nuvista Energy Ltd (TSE:NVA) Ratings Coverage
Out of 8 analysts covering Nuvista Energy Ltd. (TSE:NVA), 7 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. Nuvista Energy Ltd. has been the topic of 28 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by Scotia Capital on Thursday, August 11 with “Outperform”. The stock of Nuvista Energy Ltd (TSE:NVA) earned “Market Perform” rating by BMO Capital Markets on Friday, February 12. The stock of Nuvista Energy Ltd (TSE:NVA) earned “Buy” rating by TD Securities on Friday, August 12. TD Securities maintained Nuvista Energy Ltd (TSE:NVA) on Wednesday, August 12 with “Buy” rating. RBC Capital Markets maintained Nuvista Energy Ltd (TSE:NVA) rating on Monday, October 31. RBC Capital Markets has “Outperform” rating and $9 price target. Desjardins Securities maintained the stock with “Buy” rating in Thursday, August 11 report. Desjardins Securities maintained it with “” rating and $7.50 target price in Tuesday, June 28 report. Raymond James maintained the shares of NVA in a report on Monday, June 6 with “” rating.
More news for Nuvista Energy Ltd (TSE:NVA) were recently published by: Marketwired.com, which released: “NuVista Energy Ltd. Provides 5-Year Plan to 60000+ Boe/d, Announces New Gas …” on October 11, 2016. Marketwired.com‘s article titled: “NuVista Energy Ltd. Announces Closing of Equity Financing” and published on October 28, 2016 is yet another important article.
NuVista Energy Ltd. is an exploration and production company, which is engaged in exploration, development and production of oil and natural gas reserves in the Western Canadian Sedimentary Basin. The company has a market cap of $1.17 billion. The Company’s primary focus is on Montney formation in the Alberta Deep Basin (Wapiti Montney). It currently has negative earnings. The Company’s products include natural gas, and condensate and oil.
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.