Upgrade Alert for EnCana (ECA)
EnCana (NYSE:ECA) was upgraded from Hold to Buy at GMP Securities today. The stock closed yesterday at $10.73 on volume of 20.7 million shares, above average daily volume of 15.0 million.
EnCana (NYSE:ECA) is currently priced 3.6% above its average consensus analyst price target of $10.34. The stock should find initial support at its 200-day moving average (MA) of $6.35 and further support at its 50-day MA of $6.09.
EnCana share prices have moved between a 52-week high of $14.73 and a 52-week low of $3.00 and closed yesterday at 258% above that low price at $10.73 per share. The 200-day and 50-day moving averages have moved 0.76% lower and 4.62% higher over the past week, respectively.
EnCana Corporation explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids. The Company operates in North and South America.
SmarTrend recommended that subscribers consider buying shares of EnCana on May 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.48. Since that recommendation, shares of EnCana have risen 46.2%. We continue to monitor ECA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades encana