Encana Corporation (ECA) Shares are Up 7.99%

Encana Corporation (ECA) : Traders are bullish on Encana Corporation (ECA) as it has outperformed the S&P 500 by a wide margin of 22.59% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.02%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 7.99% in the last 1 week, and is up 23.06% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

Encana Corporation is up 36.91% in the last 3-month period. Year-to-Date the stock performance stands at 100.15%. The stock has recorded a 20-day Moving Average of 18.53% and the 50-Day Moving Average is 23.79%.

Encana

Encana Corporation (NYSE:ECA): The stock opened at $10.03 on Friday but the bulls could not build on the opening and the stock topped out at $10.19 for the day. The stock traded down to $9.95 during the day, due to lack of any buying support eventually closed down at $10.14 with a loss of -0.10% for the day. The stock had closed at $10.15 on the previous day. The total traded volume was 11,645,903 shares.

Also, Brokerage firm FirstEnergy upgrades its rating on Encana Corporation (NYSE:ECA). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on July 26, 2016.

Encana Corporation is engaged in the business of the exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). The Company operates through three business segments: Canadian Operations, which includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within Canada; USA Operations, which includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within the United States and Market Optimization, which includes third-party purchases and sales of products that provide operational flexibility for transportation commitments, product type, delivery points and customer diversification. Market Optimization sells all of the Companys upstream production to third-party customers. Its growth assets include Permian; Tuscaloosa Marine Shale; Eagle Ford; Montney; Duvernay; DJ Basin, and San Juan.

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