Will Birchcliff Energy Ltd. Short Squeeze Soon? The Stock Just Gapped Down

 Will Birchcliff Energy Ltd. Short Squeeze Soon? The Stock Just Gapped Down

The stock of Birchcliff Energy Ltd. (TSE:BIR) gapped down by $0.09 today and has $7.51 target or 9.00% below today’s $8.25 share price according to Friscofastball’s technical analyst. The 7 months technical chart setup indicates high risk for the $2.08 billion company. The gap down was reported on Nov, 29 by Barchart.com. If the $7.51 price target is reached, the company will be worth $187.20M 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 207,221 shares traded hands. Birchcliff Energy Ltd. (TSE:BIR) has risen 72.54% since April 25, 2016 and is uptrending. It has outperformed by 67.28% the S&P500.

Birchcliff Energy Ltd. (TSE:BIR) Ratings Coverage

Out of 7 analysts covering Birchcliff Energy Ltd. (TSE:BIR), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. $12.50 is the highest target while $4.85 is the lowest. The $10.13 average target is 22.79% above today’s ($8.25) stock price. Birchcliff Energy Ltd. has been the topic of 23 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Scotia Capital maintained Birchcliff Energy Ltd. (TSE:BIR) on Monday, August 22 with “Focus Stock” rating. The firm has “Sector Perform” rating given on Friday, January 22 by RBC Capital Markets. The stock of Birchcliff Energy Ltd. (TSE:BIR) earned “Focus Stock” rating by Scotia Capital on Friday, August 12. Raymond James maintained Birchcliff Energy Ltd. (TSE:BIR) on Monday, June 6 with “” rating. The firm earned “Outperform” rating on Friday, February 12 by BMO Capital Markets. RBC Capital Markets upgraded Birchcliff Energy Ltd. (TSE:BIR) on Thursday, February 11 to “Outperform” rating.

More important recent Birchcliff Energy Ltd. (TSE:BIR) news were published by: Theglobeandmail.com which released: “The Globe and Mail” on November 22, 2011, also Marketwired.com published article titled: “Birchcliff Energy Ltd. Increases Size of Bought Deal Financing”, Fool.ca published: “Birchcliff Energy Ltd. Just Went All-In on Rising Oil Prices” on September 12, 2016. More interesting news about Birchcliff Energy Ltd. (TSE:BIR) was released by: Business.Financialpost.com and their article: “Seymour Schulich lightens up on Birchcliff Energy ownership, sells for estate …” with publication date: August 09, 2016.

Birchcliff Energy Ltd. is an intermediate oil and natural gas company. The company has a market cap of $2.08 billion. The Firm is engaged in the exploration for and the development, production and acquisition of petroleum and natural gas reserves in Western Canada. It currently has negative earnings. The Company’s activities are concentrated within core area, the Peace River Arch, which is centered over 90 kilometers northwest of Grande Prairie, Alberta, adjacent to the Alberta/British Columbia border.

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