The stock of Blackbird Energy Inc (CVE:BBI) gapped down by $0.01 today and has $0.50 target or 6.00% below today’s $0.53 share price. The 7 months technical chart setup indicates high risk for the $296.09 million company. The gap down was reported on Nov, 29 by Barchart.com. If the $0.50 price target is reached, the company will be worth $17.77M 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 638,731 shares traded hands. Blackbird Energy Inc (CVE:BBI) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
More notable recent Blackbird Energy Inc (CVE:BBI) news were published by: Marketwired.com which released: “Blackbird Energy Inc. to Acquire Minority Interest in Stage Completions Inc.” on July 28, 2016, also Marketwired.com with their article: “Blackbird Energy Inc. Announces Unit and CDE Flow-Through Common Share …” published on April 25, 2016, Marketwired.com published: “Blackbird Energy Inc. Announces 522% Increase in Elmworth Montney Proved Plus …” on March 08, 2016. More interesting news about Blackbird Energy Inc (CVE:BBI) were released by: Marketwired.com and their article: “Blackbird Energy Inc. Announces Closing of CEE Private Placement for Proceeds …” published on October 27, 2016 as well as Marketwired.com‘s news article titled: “Blackbird Energy Inc. Announces Closing of Unit and CDE Flow-Through Share …” with publication date: May 19, 2016.
Blackbird Energy Inc. is a Canada-based energy company. The company has a market cap of $296.09 million. The Firm is engaged in the exploration for and the production of oil and natural gas. It has a 445.38 P/E ratio. The Company’s activities are located in Western Canada.
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