The stock of SDX Energy Inc (CVE:SDX) gapped up by $0.01 today and has $0.48 target or 6.00% above today’s $0.45 share price. The 9 months technical chart setup indicates low risk for the $33.65M company. The gap was reported on Nov, 30 by Barchart.com. If the $0.48 price target is reached, the company will be worth $2.02M 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 106,257 shares traded hands or 88.56% up from the average. SDX Energy Inc (CVE:SDX) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.
More news for SDX Energy Inc (CVE:SDX) were recently published by: Prnewswire.com, which released: “SDX Energy Inc. – Operations Update – Staffing Changes” on November 16, 2015. Prnewswire.com‘s article titled: “SDX Energy Inc. – Operations Update – South Disouq, Egypt” and published on November 10, 2015 is yet another important article.
SDX Energy Inc., formerly Sea Dragon Energy Inc., is an gas and oil company, with a principal focus on Egypt. The company has a market cap of $33.65 million. The Firm is engaged in exploration, development and production of natural gas and crude oil liquids. It currently has negative earnings.
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