What Will Happen to Spartan Energy Corp Next? The Stock Just Gapped Down

 What Will Happen to Spartan Energy Corp Next? The Stock Just Gapped Down

The stock of Spartan Energy Corp (TSE:SPE) gapped down by $0.04 today and has $2.82 target or 5.00% below today’s $2.97 share price. The 7 months technical chart setup indicates high risk for the $1000.00M company. The gap down was reported on Nov, 29 by Barchart.com. If the $2.82 price target is reached, the company will be worth $50.00 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 969,859 shares traded hands. Spartan Energy Corp (TSE:SPE) has declined 1.63% since April 25, 2016 and is downtrending. It has underperformed by 6.89% the S&P500.

Spartan Energy Corp (TSE:SPE) Ratings Coverage

Out of 4 analysts covering Spartan Energy Corp (TSE:SPE), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $4.15 is the highest target while $2.65 is the lowest. The $3.93 average target is 32.32% above today’s ($2.97) stock price. Spartan Energy Corp has been the topic of 8 analyst reports since December 3, 2015 according to StockzIntelligence Inc. National Bank Canada maintained the shares of SPE in a report on Wednesday, August 24 with “Outperform” rating.

More notable recent Spartan Energy Corp (TSE:SPE) news were published by: Marketwired.com which released: “Spartan Energy Corp. Announces Southeast Saskatchewan Light Oil Acquisition …” on August 03, 2016, also Marketwired.com with their article: “Spartan Energy Corp. Announces Two Consolidating Southeast Saskatchewan Light …” published on June 29, 2016, Marketwired.com published: “Spartan Energy Corp. Announces Exercise of Over-Allotment Option and …” on August 24, 2016. More interesting news about Spartan Energy Corp (TSE:SPE) were released by: Marketwired.com and their article: “Spartan Energy Corp. Announces $75 Million Bought Deal Financing” published on February 24, 2016 as well as Marketwired.com‘s news article titled: “Spartan Energy Corp. Announces First Quarter Financial and Operating Results …” with publication date: May 11, 2016.

Spartan Energy Corp, formerly Alexander Energy Ltd is a Canada oil and natural gas exploration and production firm with producing properties focused in Saskatchewan. The company has a market cap of $1000.00 million. The Company’s properties include Southeast Saskatchewan, West Central Saskatchewan and Alexander Alberta. It currently has negative earnings. The Southeast Saskatchewan property focuses on conventional Mississippian targets, primarily in the Frobisher/Alida and Midale formations.

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