Is Blackbird Energy Inc a Buy? The Stock Gapped Up Today

 Is Blackbird Energy Inc a Buy? The Stock Gapped Up Today

The stock of Blackbird Energy Inc (CVE:BBI) gapped up by $0.01 today and has $0.56 target or 3.00% above today’s $0.54 share price. The 8 months technical chart setup indicates low risk for the $301.26 million company. The gap was reported on Nov, 30 by Barchart.com. If the $0.56 price target is reached, the company will be worth $9.04M 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 940,198 shares traded hands. Blackbird Energy Inc (CVE:BBI) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.

More notable recent Blackbird Energy Inc (CVE:BBI) news were published by: Marketwired.com which released: “Blackbird Energy Inc. to Acquire Minority Interest in Stage Completions Inc.” on July 28, 2016, also Marketwired.com with their article: “Blackbird Energy Inc. Announces Unit and CDE Flow-Through Common Share …” published on April 25, 2016, Marketwired.com published: “Blackbird Energy Inc. Announces 522% Increase in Elmworth Montney Proved Plus …” on March 08, 2016. More interesting news about Blackbird Energy Inc (CVE:BBI) were released by: Marketwired.com and their article: “Blackbird Energy Inc. Announces Closing of CEE Private Placement for Proceeds …” published on October 27, 2016 as well as Marketwired.com‘s news article titled: “Blackbird Energy Inc. Announces Closing of Unit and CDE Flow-Through Share …” with publication date: May 19, 2016.

Blackbird Energy Inc. is a Canada-based energy company. The company has a market cap of $301.26 million. The Firm is engaged in the exploration for and the production of oil and natural gas. It has a 453.78 P/E ratio. The Company’s activities are located in Western Canada.

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