Cardinal Energy Ltd Just Recorded A Sigfniciant Gap Up

 Cardinal Energy Ltd Just Recorded A Sigfniciant Gap Up

The stock of Cardinal Energy Ltd (TSE:CJ) gapped up by $0.41 today and has $9.90 target or 3.00% above today’s $9.61 share price. The 5 months technical chart setup indicates low risk for the $664.09M company. The gap was reported on Nov, 30 by If the $9.90 price target is reached, the company will be worth $19.92 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 601,338 shares traded hands or 77.56% up from the average. Cardinal Energy Ltd (TSE:CJ) has declined 8.38% since April 26, 2016 and is downtrending. It has underperformed by 13.61% the S&P500.

Cardinal Energy Ltd (TSE:CJ) Ratings Coverage

Out of 4 analysts covering Cardinal Energy (TSE:CJ), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $17 is the highest target while $7 is the lowest. The $12.36 average target is 28.62% above today’s ($9.61) stock price. Cardinal Energy has been the topic of 11 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by Dundee Securities given on Tuesday, January 12. RBC Capital Markets maintained Cardinal Energy Ltd (TSE:CJ) on Tuesday, November 8 with “Outperform” rating. The firm earned “Buy” rating on Wednesday, November 9 by TD Securities. The firm earned “Outperform” rating on Tuesday, November 8 by Scotia Capital.

More recent Cardinal Energy Ltd (TSE:CJ) news were published by: which released: “Cardinal Energy Ltd. Confirms Monthly Dividend for November” on November 10, 2016. Also published the news titled: “Cardinal Energy Ltd. Announces Second Quarter Results” on August 02, 2016.‘s news article titled: “Cardinal Energy Ltd. Announces $50 Million Bought Deal Financing” with publication date: May 25, 2016 was also an interesting one.

Cardinal Energy Ltd. is a Canada-based oil-focused company. The company has a market cap of $664.09 million. The Firm is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan. It currently has negative earnings. The Company’s Wainwright properties are located approximately 200 kilometers southeast of Edmonton, Alberta.

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