The stock of Crew Energy Inc (TSE:CR) gapped up by $0.44 today and has $7.56 target or 3.00% above today’s $7.34 share price. The 8 months technical chart setup indicates low risk for the $1.02 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $7.56 price target is reached, the company will be worth $30.60 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 663,754 shares traded hands. Crew Energy Inc (TSE:CR) has risen 35.81% since April 26, 2016 and is uptrending. It has outperformed by 30.59% the S&P500.
Crew Energy Inc (TSE:CR) Ratings Coverage
Out of 6 analysts covering Crew Energy Inc. (TSE:CR), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $9 is the highest target while $4.25 is the lowest. The $6.87 average target is -6.40% below today’s ($7.34) stock price. Crew Energy Inc. has been the topic of 28 analyst reports since August 24, 2015 according to StockzIntelligence Inc. On Friday, September 11 the stock rating was upgraded by Scotia Capital to “Outperform”. The firm has “Market Perform” rating given on Friday, February 12 by BMO Capital Markets. The stock of Crew Energy Inc (TSE:CR) earned “Sector Outperform” rating by RBC Capital Markets on Wednesday, December 2. The stock of Crew Energy Inc (TSE:CR) earned “” rating by Raymond James on Monday, June 6. Canaccord Genuity initiated Crew Energy Inc (TSE:CR) on Monday, August 24 with “Buy” rating. The stock of Crew Energy Inc (TSE:CR) has “Outperform” rating given on Wednesday, January 6 by FirstEnergy Capital. The stock of Crew Energy Inc (TSE:CR) earned “Outperform” rating by Scotia Capital on Friday, November 4.
Crew Energy Inc. is an oil and gas exploration, development and production company. The company has a market cap of $1.02 billion. The Firm conducts its activities in the Western Canadian Sedimentary basin, primarily in the provinces of Alberta, British Columbia and Saskatchewan. It currently has negative earnings. The Company’s activities are primarily focused in the vast Montney resource situated in northeast British Columbia.
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