What’s Spartan Energy Corp Upside After Today’s Gap Up?

 What's Spartan Energy Corp Upside After Today's Gap Up?

The stock of Spartan Energy Corp (TSE:SPE) gapped up by $0.03 today and has $3.47 target or 4.00% above today’s $3.34 share price. The 9 months technical chart setup indicates low risk for the $1.30B company. The gap was reported on Dec, 1 by Barchart.com. If the $3.47 price target is reached, the company will be worth $52.00 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 5.54 million shares traded hands or 87.80% up from the average. Spartan Energy Corp (TSE:SPE) has risen 4.13% since April 27, 2016 and is uptrending. It has underperformed by 1.80% the S&P500.

Spartan Energy Corp (TSE:SPE) Ratings Coverage

Out of 4 analysts covering Spartan Energy Corp (TSE:SPE), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Spartan Energy Corp has been the topic of 8 analyst reports since December 3, 2015 according to StockzIntelligence Inc. National Bank Canada maintained it with “Outperform” rating and $4 target price in Wednesday, August 24 report.

More important recent Spartan Energy Corp (TSE:SPE) news were published by: Marketwired.com which released: “Spartan Energy Corp. Announces Southeast Saskatchewan Light Oil Acquisition …” on August 03, 2016, also Marketwired.com published article titled: “Spartan Energy Corp. Announces Exercise of Over-Allotment Option and …”, Marketwired.com published: “Spartan Energy Corp. Announces $75 Million Bought Deal Financing” on February 24, 2016. More interesting news about Spartan Energy Corp (TSE:SPE) was released by: Marketwired.com and their article: “Spartan Energy Corp. Announces First Quarter Financial and Operating Results …” with publication date: May 11, 2016.

Spartan Energy Corp, formerly Alexander Energy Ltd is a Canada oil and natural gas exploration and production firm with producing properties focused in Saskatchewan. The company has a market cap of $1.30 billion. The Company’s properties include Southeast Saskatchewan, West Central Saskatchewan and Alexander Alberta. It currently has negative earnings. The Southeast Saskatchewan property focuses on conventional Mississippian targets, primarily in the Frobisher/Alida and Midale formations.

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