What’s Advantage Oil & Gas Ltd. (AAV) Downside After Forming Multiple Bottom?

May 17, 2018 - By Paula Hilliard

Advantage Oil & Gas Ltd. (NYSE:AAV) Logo

The stock of Advantage Oil & Gas Ltd. (AAV) shows a multiple bottoms pattern with $2.85 target or 8.00 % below today’s $3.10 share price. The 9 months chart pattern indicates high risk for the $579.00 million company. It was reported on May, 17 by Finviz.com. If the $2.85 price target is reached, the company will be worth $46.32M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

It closed at $3.1 lastly. It is down 53.13% since May 17, 2017 and is downtrending. It has underperformed by 64.68% the S&P500.

Analysts await Advantage Oil & Gas Ltd. (NYSE:AAV) to report earnings on August, 2. They expect $0.02 EPS, down 66.67 % or $0.04 from last year’s $0.06 per share. AAV’s profit will be $3.74M for 38.75 P/E if the $0.02 EPS becomes a reality. After $0.04 actual EPS reported by Advantage Oil & Gas Ltd. for the previous quarter, Wall Street now forecasts -50.00 % negative EPS growth.

Another recent and important Advantage Oil & Gas Ltd. (NYSE:AAV) news was published by Investorplace.com which published an article titled: “10 Energy Stocks That Are Leaking” on April 27, 2018.

Advantage Oil & Gas Ltd., together with its subsidiaries, acquires, exploits, develops, and produces natural gas in the province of Alberta, Canada. The company has market cap of $579.00 million. The firm primarily focuses on the development and delineation of its Montney natural gas and liquids resource that includes 157 net sections of land in Glacier, Alberta. It has a 7.93 P/E ratio. It provides natural gas and natural gas liquids primarily through marketing companies.

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