The stock of Husky Energy Inc. (TSE:HSE) gapped down by $0.08 today and has $13.66 target or 7.00% below today’s $14.69 share price. The 9 months technical chart setup indicates high risk for the $14.75 billion company. The gap down was reported on Nov, 25 by Barchart.com. If the $13.66 price target is reached, the company will be worth $1.03B 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 211,360 shares traded hands. Husky Energy Inc. (TSE:HSE) has declined 14.75% since April 21, 2016 and is downtrending. It has underperformed by 20.16% the S&P500.
Husky Energy Inc. (TSE:HSE) Ratings Coverage
Out of 7 analysts covering Husky Energy Inc. (TSE:HSE), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Husky Energy Inc. has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The company was maintained on Wednesday, October 26 by RBC Capital Markets. The rating was maintained by RBC Capital Markets on Wednesday, December 9 with “Outperform”. Raymond James maintained it with “” rating and $18 target price in Monday, June 6 report. As per Thursday, November 5, the company rating was upgraded by FirstEnergy Capital. BMO Capital Markets upgraded the shares of HSE in a report on Monday, November 2 to “Outperform” rating. The stock of Husky Energy Inc. (TSE:HSE) earned “Buy” rating by Desjardins Securities on Tuesday, June 28.
More notable recent Husky Energy Inc. (TSE:HSE) news were published by: Wsj.com which released: “Husky Energy Swings to Profit on Gains” on October 27, 2016, also Wsj.com with their article: “Husky Energy to Sell Stake in Assets to Li Ka-shing-Controlled Companies” published on April 26, 2016, Wsj.com published: “Canada’s Husky Energy Slashes Budget, Suspends Dividend” on January 19, 2016. More interesting news about Husky Energy Inc. (TSE:HSE) were released by: Moodys.com and their article: “Moody’s confirms Husky Energy’s Baa2 rating; outlook stable” published on February 19, 2016 as well as Bloomberg.com‘s news article titled: “Husky Said Near Deals to Sell 5 E&P Packages for C$400 Million” with publication date: May 11, 2016.
Husky Energy Inc. is an integrated energy company. The company has a market cap of $14.75 billion. The Company’s Upstream segment includes exploration, development and production of crude oil, bitumen, natural gas and natural gas liquids, and marketing of the Company’s and other producers’ crude oil, natural gas, natural gas liquids, sulfur and petroleum coke, pipeline transportation, the blending of natural gas and crude oil, and storage of crude oil, diluent and natural gas. It has a 23.6 P/E ratio. Upstream activities are located primarily in Western Canada, offshore East Coast of Canada, offshore China and offshore Indonesia.
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