What’s Next for Trilogy Energy Corp After Today’s Gap Up?

 What's Next for Trilogy Energy Corp After Today's Gap Up?

The stock of Trilogy Energy Corp (TSE:TET) gapped up by $0.31 today and has $6.79 target or 9.00% above today’s $6.23 share price. The 6 months technical chart setup indicates low risk for the $618.76 million company. The gap was reported on Nov, 30 by Barchart.com. If the $6.79 price target is reached, the company will be worth $55.69M 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 347,717 shares traded hands or 58.84% up from the average. Trilogy Energy Corp (TSE:TET) has risen 12.45% since April 26, 2016 and is uptrending. It has outperformed by 7.22% the S&P500.

Trilogy Energy Corp (TSE:TET) Ratings Coverage

Out of 8 analysts covering Trilogy Energy Corp (TSE:TET), 1 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 13% are positive. $11.50 is the highest target while $3.75 is the lowest. The $6.67 average target is 7.06% above today’s ($6.23) stock price. Trilogy Energy Corp has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Thursday, November 26 the stock rating was maintained by National Bank Canada with “Sector Perform”. The stock has “Neutral” rating given by Dundee Securities on Tuesday, January 12. The firm has “Hold” rating by TD Securities given on Wednesday, November 9. RBC Capital Markets maintained it with “Sector Perform” rating and $8 target price in Monday, October 31 report. The company was initiated on Wednesday, June 15 by IBC. RBC Capital Markets maintained Trilogy Energy Corp (TSE:TET) rating on Tuesday, November 8. RBC Capital Markets has “Sector Perform” rating and $8 price target. Raymond James maintained Trilogy Energy Corp (TSE:TET) on Monday, June 6 with “” rating. The stock of Trilogy Energy Corp (TSE:TET) has “Hold” rating given on Friday, November 20 by GMP Securities. The stock of Trilogy Energy Corp (TSE:TET) earned “Sector Perform” rating by Scotia Capital on Tuesday, November 8.

More news for Trilogy Energy Corp (TSE:TET) were recently published by: Marketwired.com, which released: “Trilogy Energy Corp. Announces Crude Oil Emulsion Release in Kaybob Area” on October 07, 2016. Marketwired.com‘s article titled: “Trilogy Energy Corp. Announces Financial and Operating Results for the Six …” and published on August 04, 2016 is yet another important article.

Trilogy Energy Corp. is a Canada-based petroleum and natural gas-focused energy company. The company has a market cap of $618.76 million. The Firm acquires, develops, produces and sells crude oil, natural gas and natural gas liquids. It currently has negative earnings. The Company’s gas and oil properties are located in the Kaybob area and Grande Prairie area of Alberta.

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