The stock of Kelt Exploration Ltd (TSE:KEL) gapped up by $0.14 today and has $7.16 target or 5.00% above today’s $6.82 share price. The 5 months technical chart setup indicates low risk for the $1.34 billion company. The gap was reported on Dec, 1 by Barchart.com. If the $7.16 price target is reached, the company will be worth $67.00M 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 1.99 million shares traded hands or 17.75% up from the average. Kelt Exploration Ltd (TSE:KEL) has risen 38.31% since April 27, 2016 and is uptrending. It has outperformed by 32.39% the S&P500.
Kelt Exploration Ltd (TSE:KEL) Ratings Coverage
Out of 4 analysts covering Kelt Exploration Ltd. (TSE:KEL), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Kelt Exploration Ltd. has been the topic of 32 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The company was maintained on Tuesday, August 11 by TD Securities. The stock of Kelt Exploration Ltd (TSE:KEL) earned “Neutral” rating by Credit Suisse on Tuesday, August 11. The stock has “Outperform” rating given by RBC Capital Markets on Tuesday, August 11. The rating was downgraded by IBC to “Sector Performer” on Wednesday, October 28. Desjardins Securities maintained the shares of KEL in a report on Tuesday, June 28 with “” rating. The stock of Kelt Exploration Ltd (TSE:KEL) earned “Buy” rating by Paradigm Research on Tuesday, August 11. The firm has “Action List Buy” rating given on Friday, November 11 by TD Securities. The rating was maintained by IBC with “Outperform” on Tuesday, August 11. Scotia Capital maintained the shares of KEL in a report on Friday, August 12 with “Outperform” rating. Scotia Capital maintained the shares of KEL in a report on Friday, November 11 with “Outperform” rating.
Kelt Exploration Ltd. is an oil and gas firm based in Calgary, Alberta. The company has a market cap of $1.34 billion. The Firm is focused on the exploration, development and production of natural gas and crude oil resources, primarily in west central Alberta and northeastern British Columbia. It currently has negative earnings. The Company’s land holdings are located in Inga/Fireweed/Stoddart, British Columbia; Grande Prairie , Alberta; Karr, Alberta, and Grande Cache, Alberta.
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