What Will Happen to Enerplus Corporation (ERF) Next? The Stock Formed a Several Months Bearish Head & Shoulders Chart Pattern

Enerplus Corporation (NYSE:ERF) Logo

The stock of Enerplus Corporation (ERF) formed H&S with $8.76 target or 9.00 % below today’s $9.63 share price. The 5 months Head & Shoulders indicates high risk for the $2.42 billion company. It was reported on Dec, 2 by Faxor.com. If the $8.76 price target is reached, the company will be worth $218.07 million less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock decreased 1.43% or $0.14 during the last trading session, reaching $9.63. About 904,141 shares traded or 8.29% up from the average. Enerplus Corporation (NYSE:ERF) has risen 31.59% since December 2, 2017 and is uptrending. It has outperformed by 15.97% the S&P500.

More notable recent Enerplus Corporation (NYSE:ERF) news were published by: Benzinga.com which released: “Earnings Scheduled For November 9, 2018 – Benzinga” on November 09, 2018, also Fool.ca with their article: “Look Beyond the Noise: 2 Top Energy Stocks Creating Real Wealth – The Motley Fool Canada” published on November 14, 2018, Nasdaq.com published: “Energy Sector Update for 11/09/2018: ERF, HUSA,BRS – Nasdaq” on November 09, 2018. More interesting news about Enerplus Corporation (NYSE:ERF) were released by: Twst.com and their article: “Enerplus Corporation: Enerplus Announces Third Quarter 2018 Results – The Wall Street Transcript” published on November 09, 2018 as well as Seekingalpha.com‘s news article titled: “Enerplus Corporation (ERF) CEO Ian Dundas on Q3 2018 Results – Earnings Call Transcript – Seeking Alpha” with publication date: November 09, 2018.

Enerplus Corporation, together with subsidiaries, engages in the exploration and development of natural gas and crude oil in the United States and Canada. The company has market cap of $2.42 billion. The companyÂ’s oil and natural gas properties are located primarily in North Dakota, Montana, and Pennsylvania; and Alberta, British Columbia, and Saskatchewan. It has a 22.04 P/E ratio. As of December 31, 2016, it had proved plus probable gross reserves of approximately 14.3 million barrels of light and medium crude oil; 39.0 MMbbls of heavy crude oil; 123.0 MMbbls of tight oil; 18.1 MMbbls of natural gas liquids; 126.3 billion cubic feet (Bcf) of conventional natural gas; and 1,002.8 Bcf of shale gas.

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