Precision Drilling Corporation Stock Price Gaps Up Today; Buyers Are Thriving

 Precision Drilling Corporation Stock Price Gaps Up Today; Buyers Are Thriving

The stock of Precision Drilling Corporation (TSE:PD) gapped up by $0.47 today and has $6.99 target or 6.00% above today’s $6.59 share price. The 5 months technical chart setup indicates low risk for the $1.90 billion company. The gap was reported on Nov, 30 by If the $6.99 price target is reached, the company will be worth $114.00 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 1.84 million shares traded hands. Precision Drilling Corporation (TSE:PD) has risen 2.18% since April 26, 2016 and is uptrending. It has underperformed by 3.04% the S&P500.

Precision Drilling Corporation (TSE:PD) Ratings Coverage

Out of 8 analysts covering Precision Drilling Corporation (TSE:PD), 5 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 63% are positive. $11.50 is the highest target while $3 is the lowest. The $6.34 average target is -3.79% below today’s ($6.59) stock price. Precision Drilling Corporation has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Scotia Capital maintained the stock with “Underperform” rating in Friday, July 22 report. The firm has “Outperform” rating by Raymond James given on Tuesday, September 8. The rating was maintained by TD Securities with “Buy” on Wednesday, November 2. On Friday, July 22 the stock rating was maintained by RBC Capital Markets with “Outperform”. RBC Capital Markets maintained Precision Drilling Corporation (TSE:PD) on Monday, October 24 with “Outperform” rating. The rating was maintained by IBC on Wednesday, August 19 with “Sector Outperform”. The stock has “Buy” rating given by TD Securities on Tuesday, November 8.

Another recent and important Precision Drilling Corporation (TSE:PD) news was published by which published an article titled: “Precision Drilling Corporation Announces Pricing Details of Redemption of 2019 …” on November 08, 2016.

Precision Drilling Corporation provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. The company has a market cap of $1.90 billion. It operates through two divisions: Contract Drilling Services, and Completion and Production Services. It currently has negative earnings. The Contract Drilling Services segment includes Drilling rig activities in Canada, the United States and international, and Directional drilling activities in Canada and the United States.

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