Stock Worth Watching: What’s Ahead for Gas Natural Inc After Today’s Gap Down?

Stock Worth Watching: What's Ahead for Gas Natural Inc After Today's Gap Down?

The stock of Gas Natural Inc (NYSEMKT:EGAS) gapped down by $0.07 today and has $6.56 target or 13.00% below today’s $7.54 share price. The 6 months technical chart setup indicates high risk for the $79.19 million company. The gap down was reported on Oct, 4 by Barchart.com. If the $6.56 price target is reached, the company will be worth $10.29 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.69% or $0.13 on October 3, hitting $7.54. About 11,976 shares traded hands. Gas Natural Inc (NYSEMKT:EGAS) has declined 9.16% since March 1, 2016 and is downtrending. It has underperformed by 21.37% the S&P500.

Analysts await Gas Natural Inc (NYSEMKT:EGAS) to report earnings on November, 14.

According to Zacks Investment Research, “Gas Natural Inc., formerly known as Energy, Inc., distributes and sells natural gas to end-use residential, commercial, and industrial customers. It distributes natural gas through regulated utilities operating in Montana, Wyoming, Ohio, Pennsylvania, Maine and North Carolina. The Company markets natural gas to commercial and industrial customers in Montana and Wyoming on an unregulated basis. It also has a majority ownership interest in many natural gas producing wells and gas gathering assets. Further, the Company owns the Shoshone interstate and the Glacier gathering pipelines located in Montana and Wyoming. Gas Natural Inc. is headquartered in Great Falls, Montana.”

More notable recent Gas Natural Inc (NYSEMKT:EGAS) news were published by: Prnewswire.com which released: “Gas Natural Inc. Files Definitive Proxy Materials and Mails Letter to Shareholders” on June 21, 2016, also Globenewswire.com with their article: “Gas Natural Inc. Highlights Richard M. Osborne’s Regulatory and Legal …” published on June 30, 2016, Prnewswire.com published: “Gas Natural Inc. Issues Statement Regarding Director Nominations and Proxy …” on May 26, 2016. More interesting news about Gas Natural Inc (NYSEMKT:EGAS) were released by: Prnewswire.com and their article: “Gas Natural Inc. Announces Quarterly Dividend” published on June 30, 2016 as well as Globenewswire.com‘s news article titled: “Gas Natural Inc. Announces Settlement with Richard M. Osborne” with publication date: July 14, 2016.

EGAS Company Profile

Gas Natural Inc., incorporated on July 1, 2010, is a natural gas company. The Firm operates through three divisions: Natural Gas; Marketing and Production, and Corporate and Other.

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