Is Buying Canadian Energy Services & Technlgy Corp Here a Winning Strategy? The Stock Just Gapped Up

 Is Buying Canadian Energy Services & Technlgy Corp Here a Winning Strategy? The Stock Just Gapped Up

The stock of Canadian Energy Services & Technlgy Corp (TSE:CEU) gapped up by $0.28 today and has $7.32 target or 4.00% above today’s $7.04 share price. The 5 months technical chart setup indicates low risk for the $1.83B company. The gap was reported on Nov, 30 by Barchart.com. If the $7.32 price target is reached, the company will be worth $73.20 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 464,469 shares traded hands. Canadian Energy Services & Technlgy Corp (TSE:CEU) has risen 70.89% since April 26, 2016 and is uptrending. It has outperformed by 65.66% the S&P500.

Canadian Energy Services & Technlgy Corp (TSE:CEU) Ratings Coverage

Out of 5 analysts covering Canadian Energy Services & Technology Corp. (TSE:CEU), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $87 is the highest target while $2 is the lowest. The $19.62 average target is 178.69% above today’s ($7.04) stock price. Canadian Energy Services & Technology Corp. has been the topic of 21 analyst reports since August 13, 2015 according to StockzIntelligence Inc. Scotia Capital maintained it with “Outperform” rating and $4.75 target price in Thursday, June 9 report. The rating was maintained by Raymond James on Friday, October 7 with “Market Perform”. As per Tuesday, December 15, the company rating was maintained by National Bank Canada. The stock of Canadian Energy Services & Technlgy Corp (TSE:CEU) earned “Focus Stock” rating by Scotia Capital on Thursday, August 13.

More notable recent Canadian Energy Services & Technlgy Corp (TSE:CEU) news were published by: Marketwired.com which released: “Canadian Energy Services & Technology Corp. Announces Results for the Third …” on November 10, 2016, also Marketwired.com with their article: “Canadian Energy Services & Technology Corp. Announces Closing of $92.0 Million …” published on June 08, 2016, Marketwired.com published: “Canadian Energy Services & Technology Corp. Announces Results for the Second …” on August 11, 2016. More interesting news about Canadian Energy Services & Technlgy Corp (TSE:CEU) were released by: Seekingalpha.com and their article: “Canadian Energy Services & Technology’s (CESDF) CEO Tom Simons on Q3 2016 …” published on November 11, 2016 as well as Marketwired.com‘s news article titled: “Canadian Energy Services & Technology Corp. Announces $80.0 Million Equity …” with publication date: May 18, 2016.

Canadian Energy Services and Technology Corp is a Canada company, which designs, implements, and makes consumable fluids and specialty chemicals for the gas and oil industry. The company has a market cap of $1.83 billion. The Firm operates in the Western Canadian Sedimentary Basin and in several basins throughout the United States. It currently has negative earnings. In Canada, the Company operates under the trade names Canadian Energy Services, PureChem Services, Sialco Materials Ltd., Clear Environmental Solutions and EQUAL Transport.

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