Traders Are Bullish Trilogy Energy Corp After Today’s Gap Up

 Traders Are Bullish Trilogy Energy Corp After Today's Gap Up

The stock of Trilogy Energy Corp (TSE:TET) gapped up by $0.14 today and has $7.74 target or 8.00% above today’s $7.17 share price. The 5 months technical chart setup indicates low risk for the $893.13 million company. The gap was reported on Dec, 1 by Barchart.com. If the $7.74 price target is reached, the company will be worth $71.45 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 200,029 shares traded hands. Trilogy Energy Corp (TSE:TET) has risen 25.87% since April 27, 2016 and is uptrending. It has outperformed by 19.94% 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 -6.97% below today’s ($7.17) stock price. Trilogy Energy Corp has been the topic of 30 analyst reports since July 21, 2015 according to StockzIntelligence Inc. GMP Securities upgraded Trilogy Energy Corp (TSE:TET) on Friday, November 20 to “Hold” rating. The stock of Trilogy Energy Corp (TSE:TET) has “Sector Perform” rating given on Thursday, November 26 by National Bank Canada. The stock of Trilogy Energy Corp (TSE:TET) has “Sector Perform” rating given on Monday, October 31 by RBC Capital Markets. RBC Capital Markets maintained Trilogy Energy Corp (TSE:TET) on Tuesday, November 8 with “Sector Perform” rating. TD Securities maintained Trilogy Energy Corp (TSE:TET) on Wednesday, November 9 with “Hold” rating. The stock of Trilogy Energy Corp (TSE:TET) earned “Sector Perform” rating by IBC on Wednesday, June 15. The firm has “Sector Perform” rating given on Tuesday, November 8 by Scotia Capital. Dundee Securities downgraded it to “Neutral” rating and $4 target price in Tuesday, January 12 report. Raymond James maintained the shares of TET in a report on Monday, June 6 with “” rating.

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 $893.13 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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