The stock of Trilogy Energy Corp (TSE:TET) gapped down by $0.09 today and has $5.53 target or 3.00% below today’s $5.70 share price. The 7 months technical chart setup indicates high risk for the $579.20M company. The gap down was reported on Nov, 29 by Barchart.com. If the $5.53 price target is reached, the company will be worth $17.38 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 42,175 shares traded hands. Trilogy Energy Corp (TSE:TET) has risen 20.66% since April 25, 2016 and is uptrending. It has outperformed by 15.40% the S&P500.
Trilogy Energy Corp (TSE:TET) Ratings Coverage
Out of 8 analysts covering Trilogy Energy Corp (TSE:TET), 1 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 13% are positive. $11.50 is the highest target while $3.75 is the lowest. The $6.67 average target is 17.02% above today’s ($5.7) stock price. Trilogy Energy Corp has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Dundee Securities downgraded Trilogy Energy Corp (TSE:TET) on Tuesday, January 12 to “Neutral” rating. Raymond James maintained the stock with “” rating in Monday, June 6 report. RBC Capital Markets maintained the shares of TET in a report on Monday, October 31 with “Sector Perform” rating. The firm has “Sector Perform” rating given on Thursday, November 26 by National Bank Canada. As per Wednesday, June 15, the company rating was initiated by IBC. The stock of Trilogy Energy Corp (TSE:TET) has “Sector Perform” rating given on Tuesday, November 8 by Scotia Capital. TD Securities maintained the stock with “Hold” rating in Wednesday, November 9 report. The stock has “Hold” rating given by GMP Securities on Friday, November 20. The company was maintained on Tuesday, November 8 by RBC Capital Markets.
More news for Trilogy Energy Corp (TSE:TET) were recently published by: Marketwired.com, which released: “Trilogy Energy Corp. Announces Crude Oil Emulsion Release in Kaybob Area” on October 07, 2016. Marketwired.com‘s article titled: “Trilogy Energy Corp. Announces Financial and Operating Results for the Six …” and published on August 04, 2016 is yet another important article.
Trilogy Energy Corp. is a Canada-based petroleum and natural gas-focused energy company. The company has a market cap of $579.20 million. The Firm acquires, develops, produces and sells crude oil, natural gas and natural gas liquids. It currently has negative earnings. The Company’s gas and oil properties are located in the Kaybob area and Grande Prairie area of Alberta.
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