The stock of DiaMedica Inc (CVE:DMA) gapped down by $0.01 today and has $0.23 target or 12.00% below today’s $0.26 share price. The 9 months technical chart setup indicates high risk for the $21.92M company. The gap down was reported on Sep, 14 by Barchart.com. If the $0.23 price target is reached, the company will be worth $2.63M 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 7.14% or $0.02 on September 13, hitting $0.26. About 92,500 shares traded hands or 70.12% up from the average. DiaMedica Inc (CVE:DMA) has risen 6.00% since August 15, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
DiaMedica Inc. is a clinical-stage biopharmaceutical company, which focuses on recombinant proteins and monoclonal antibodies. The company has a market cap of $21.92 million. The Firm focuses on the discovery and development of treatments for stroke and other vascular diseases. It currently has negative earnings. It operates through segment, which is discovery and development of recombinant proteins and monoclonal antibody technology applications to treat large unmet diseases, including acute vascular disease of the brain, kidneys and heart.
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