ARC Resources Ltd Stock Price Gaps Up Today; Buyers Are Thriving

 ARC Resources Ltd Stock Price Gaps Up Today; Buyers Are Thriving

The stock of ARC Resources Ltd (TSE:ARX) gapped up by $0.03 today and has $24.40 target or 3.00% above today’s $23.69 share price. The 7 months technical chart setup indicates low risk for the $8.13 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $24.40 price target is reached, the company will be worth $243.90 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 600,908 shares traded hands. ARC Resources Ltd (TSE:ARX) has risen 9.39% since April 26, 2016 and is uptrending. It has outperformed by 4.16% the S&P500.

ARC Resources Ltd (TSE:ARX) Ratings Coverage

Out of 5 analysts covering ARC Resources (TSE:ARX), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. $32 is the highest target while $19.50 is the lowest. The $26.55 average target is 12.07% above today’s ($23.69) stock price. ARC Resources has been the topic of 32 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Friday, November 18, the company rating was maintained by Scotia Capital. The stock of ARC Resources Ltd (TSE:ARX) earned “Sector Perform” rating by National Bank Canada on Friday, November 11. The firm has “Outperform” rating by Scotia Capital given on Friday, July 29. The firm has “Hold” rating by TD Securities given on Thursday, November 17. Raymond James maintained ARC Resources Ltd (TSE:ARX) rating on Monday, June 6. Raymond James has “” rating and $27 price target. The stock of ARC Resources Ltd (TSE:ARX) earned “Outperform” rating by National Bank Canada on Thursday, November 19. Scotia Capital maintained the stock with “Outperform” rating in Friday, November 11 report. The rating was initiated by IBC on Wednesday, June 15 with “Outperform”. TD Securities maintained ARC Resources Ltd (TSE:ARX) rating on Friday, July 29. TD Securities has “Hold” rating and $32 price target. As per Wednesday, November 16, the company rating was maintained by RBC Capital Markets.

More news for ARC Resources Ltd (TSE:ARX) were recently published by: Marketwatch.com, which released: “ARC Resources Ltd. Confirms December 15, 2016 Dividend Amount” on November 16, 2016. Reuters.com‘s article titled: “BRIEF-ARC Resources Ltd announces sale of Saskatchewan Assets” and published on November 17, 2016 is yet another important article.

ARC Resources Ltd. is a Canada-based gas and oil company. The company has a market cap of $8.13 billion. The Company’s business activities include the exploration, development and production of crude oil, natural gas and natural gas liquids in over five areas across western Canada. It currently has negative earnings. The Firm is focused on the acquisition and development of resource-rich properties that provide an option for both near-term and long-term growth.

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