TORC OIL AND GAS LTD Stock Is Increasing Now. What To Expect?

 TORC OIL AND GAS LTD Stock Is Increasing Now. What To Expect?

The stock of TORC OIL AND GAS LTD (TSE:TOG) gapped up by $0.45 today and has $8.87 target or 9.00% above today’s $8.14 share price. The 9 months technical chart setup indicates low risk for the $1.31 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $8.87 price target is reached, the company will be worth $117.90 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 831,991 shares traded hands or 23.41% up from the average. TORC OIL AND GAS LTD (TSE:TOG) has declined 15.61% since April 26, 2016 and is downtrending. It has underperformed by 20.84% the S&P500.

TORC OIL AND GAS LTD (TSE:TOG) Ratings Coverage

Out of 6 analysts covering Torc Oil & Gas (TSE:TOG), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. $12 is the highest target while $5.25 is the lowest. The $8.83 average target is 8.48% above today’s ($8.14) stock price. Torc Oil & Gas has been the topic of 18 analyst reports since August 13, 2015 according to StockzIntelligence Inc. On Tuesday, December 15 the stock rating was maintained by RBC Capital Markets with “Outperform”. Scotia Capital maintained the stock with “Outperform” rating in Wednesday, November 9 report. The firm earned “Buy” rating on Friday, August 19 by TD Securities.

More news for TORC OIL AND GAS LTD (TSE:TOG) were recently published by: Business.Financialpost.com, which released: “TORC Oil & Gas Ltd leads Canadian energy stock rebound” on April 15, 2015. Marketwired.com‘s article titled: “TORC Oil & Gas Announces Strategic Acquisitions in Southeast Saskatchewan …” and published on July 25, 2016 is yet another important article.

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