Bullish Gap Up for TORC OIL AND GAS LTD After Better Fundamentals

 Bullish Gap Up for TORC OIL AND GAS LTD After Better Fundamentals

The stock of TORC OIL AND GAS LTD (TSE:TOG) gapped up by $0.09 today and has $9.29 target or 9.00% above today’s $8.52 share price. The 6 months technical chart setup indicates low risk for the $1.54 billion company. The gap was reported on Dec, 1 by Barchart.com. If the $9.29 price target is reached, the company will be worth $138.60M 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 724,780 shares traded hands. TORC OIL AND GAS LTD (TSE:TOG) has declined 4.86% since April 27, 2016 and is downtrending. It has underperformed by 10.79% 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. Torc Oil & Gas has been the topic of 18 analyst reports since August 13, 2015 according to StockzIntelligence Inc. The rating was maintained by Scotia Capital on Wednesday, November 9 with “Outperform”. The stock has “Outperform” rating given by RBC Capital Markets on Tuesday, December 15. The rating was maintained by TD Securities on Friday, August 19 with “Buy”.

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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