The stock of Aurora Cannabis Inc (CVE:ACB) gapped up by $0.01 today and has $3.77 target or 69.00% above today’s $2.23 share price. The 8 months technical chart setup indicates low risk for the $543.51M company. The gap was reported on Nov, 7 by Barchart.com. If the $3.77 price target is reached, the company will be worth $375.02 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 3.73M shares traded hands. Aurora Cannabis Inc (CVE:ACB) has risen 6.00% since October 8, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More news for Aurora Cannabis Inc (CVE:ACB) were recently published by: Seekingalpha.com, which released: “Aurora Cannabis: An Execution Story” on September 16, 2016. Seekingalpha.com‘s article titled: “Aurora Cannabis: Poised To Dominate Canadian Marijuana” and published on September 28, 2016 is yet another important article.
Aurora Cannabis Inc is a Canada firm operating via its subsidiary, Aurora Cannabis Enterprises Inc, as a licensed producer of medical marihuana pursuant to the Marihuana for Medical Purposes Regulations. The company has a market cap of $543.51 million. It operates an approximately 55 thousand square foot expandable production facility in Alberta, Canada. It currently has negative earnings.
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