The stock of Kelt Exploration Ltd (TSE:KEL) gapped up by $0.14 today and has $7.11 target or 3.00% above today’s $6.90 share price. The 5 months technical chart setup indicates low risk for the $1.36B company. The gap was reported on Dec, 1 by Barchart.com. If the $7.11 price target is reached, the company will be worth $40.80 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 1.10M shares traded hands. 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. $12 is the highest target while $4.75 is the lowest. The $7.27 average target is 5.36% above today’s ($6.9) stock price. Kelt Exploration Ltd. has been the topic of 32 analyst reports since August 11, 2015 according to StockzIntelligence Inc. The firm has “” rating given on Tuesday, June 28 by Desjardins Securities. TD Securities maintained Kelt Exploration Ltd (TSE:KEL) rating on Tuesday, August 11. TD Securities has “Buy” rating and $12 price target. TD Securities maintained the shares of KEL in a report on Friday, November 11 with “Action List Buy” rating. RBC Capital Markets maintained Kelt Exploration Ltd (TSE:KEL) on Tuesday, August 11 with “Outperform” rating. On Wednesday, October 28 the stock rating was downgraded by IBC to “Sector Performer”. Scotia Capital maintained the shares of KEL in a report on Friday, August 12 with “Outperform” rating. Paradigm Research maintained Kelt Exploration Ltd (TSE:KEL) rating on Tuesday, August 11. Paradigm Research has “Buy” rating and $10 price target. The firm has “Outperform” rating given on Tuesday, August 11 by IBC. Credit Suisse maintained it with “Neutral” rating and $8.50 target price in Tuesday, August 11 report. On Monday, June 6 the stock rating was maintained by Raymond James with “”.
Kelt Exploration Ltd. is an oil and gas firm based in Calgary, Alberta. The company has a market cap of $1.36 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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