The stock of Crew Energy Inc (TSE:CR) gapped down by $0.11 today and has $6.33 target or 8.00% below today’s $6.88 share price. The 9 months technical chart setup indicates high risk for the $970.94M company. The gap down was reported on Nov, 29 by Barchart.com. If the $6.33 price target is reached, the company will be worth $77.68 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 263,240 shares traded hands. Crew Energy Inc (TSE:CR) has risen 44.95% since April 25, 2016 and is uptrending. It has outperformed by 39.69% the S&P500.
Crew Energy Inc (TSE:CR) Ratings Coverage
Out of 6 analysts covering Crew Energy Inc. (TSE:CR), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $9 is the highest target while $4.25 is the lowest. The $6.87 average target is -0.15% below today’s ($6.88) stock price. Crew Energy Inc. has been the topic of 28 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Monday, August 24 by Canaccord Genuity. The firm has “Outperform” rating by FirstEnergy Capital given on Wednesday, January 6. Scotia Capital maintained it with “Outperform” rating and $8 target price in Friday, November 4 report. The firm has “Sector Outperform” rating given on Wednesday, December 2 by RBC Capital Markets. BMO Capital Markets initiated the stock with “Market Perform” rating in Friday, February 12 report. The stock of Crew Energy Inc (TSE:CR) earned “” rating by Raymond James on Monday, June 6. Scotia Capital upgraded Crew Energy Inc (TSE:CR) on Friday, September 11 to “Outperform” rating.
Another recent and important Crew Energy Inc (TSE:CR) news was published by Marketwired.com which published an article titled: “Crew Energy Inc. Announces Third Quarter 2016 Financial and Operating Results …” on November 03, 2016.
Crew Energy Inc. is an oil and gas exploration, development and production company. The company has a market cap of $970.94 million. The Firm conducts its activities in the Western Canadian Sedimentary basin, primarily in the provinces of Alberta, British Columbia and Saskatchewan. It currently has negative earnings. The Company’s activities are primarily focused in the vast Montney resource situated in northeast British Columbia.
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