The stock of Aphria Inc (CVE:APH) gapped up by $0.07 today and has $11.37 target or 190.00% above today’s $3.92 share price. The 6 months technical chart setup indicates low risk for the $375.27M company. The gap was reported on Nov, 7 by Barchart.com. If the $11.37 price target is reached, the company will be worth $713.01 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 826,947 shares traded hands. Aphria Inc (CVE:APH) has risen 6.00% since October 8, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More notable recent Aphria Inc (CVE:APH) news were published by: Seekingalpha.com which released: “The Most Compelling Marijuana Investment: Aphria” on June 01, 2016, also Midasletter.com with their article: “Aphria Inc. CEO Vic Neufeld on Canopy Growth, Organigram and Recreational …” published on November 10, 2015, Seekingalpha.com published: “Aphria: A Growing Green Gem” on August 22, 2016. More interesting news about Aphria Inc (CVE:APH) were released by: Marketwired.com and their article: “Aphria Inc. Announces $25 Million Bought Deal” published on July 28, 2016 as well as Midasletter.com‘s news article titled: “TSX Best Marijuana Bets in 2016: Canopy Growth Corp, Aphria Inc, and …” with publication date: January 02, 2016.
Aphria Inc., formerly Black Sparrow Capital Corp., is a Canada company, which is engaged in producing and selling medical marijuana through retail sales and wholesale channels. The company has a market cap of $375.27 million. The Company’s retail sales are primarily sold through the Company’s online store, as well as telephone orders. It has a 162.18 P/E ratio. The Company’s wholesale shipments are sold to other Medical Purposes Regulations Licensed Producers.
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