A Reversal for IntelliPharmaCeutics International Inc. Is Not Near. The Stock Gaps Down

 A Reversal for IntelliPharmaCeutics International Inc. Is Not Near. The Stock Gaps Down

The stock of IntelliPharmaCeutics International Inc. (TSE:I) gapped down by $0.01 today and has $3.01 target or 13.00% below today’s $3.46 share price. The 8 months technical chart setup indicates high risk for the $99.94 million company. The gap down was reported on Nov, 3 by Barchart.com. If the $3.01 price target is reached, the company will be worth $12.99M 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%. About 11,610 shares traded hands. IntelliPharmaCeutics International Inc. (TSE:I) has risen 35.09% since March 30, 2016 and is uptrending. It has outperformed by 33.88% the S&P500.

IntelliPharmaCeutics International Inc is a Canada pharmaceutical firm specializing in the research, development and manufacture of controlled-release and targeted-release oral solid dosage drugs. The company has a market cap of $99.94 million. The Company’s Hypermatrix technology is a multidimensional controlled-release drug delivery platform that is applied to the development of a range of existing and new pharmaceuticals. It currently has negative earnings. It has developed several drug delivery systems and a pipeline of products and product candidates in therapeutic areas that include neurology, cardiovascular, gastrointestinal tract, diabetes and pain.

I.TO Company Profile

Intellipharmaceutics International Inc., incorporated on October 22, 2009, is a pharmaceutical firm specializing in the research, development and manufacture of controlled-release and targeted-release oral solid dosage drugs. The Company’s Hypermatrix technology is a multidimensional controlled-release drug delivery platform that is applied to the development of a range of existing and new pharmaceuticals. Based on this technology platform, the Company has developed several drug delivery systems and a pipeline of products and product candidates at various stages of development in therapeutic areas that include neurology, cardiovascular, gastrointestinal tract (GIT), diabetes and pain. The Hypermatrix family of technologies includes IntelliFoam, IntelliGITransporter, IntelliMatrix, IntelliOsmotics, IntelliPaste, IntelliPellets, IntelliShuttle, Point of Divergence Drug Delivery System (nPODDDS) and Paradoxical OverDose Resistance Activating System (PODRAS).

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