The stock of Organigram Holdings Inc (CVE:OGI) gapped up by $0.02 today and has $4.94 target or 88.00% above today’s $2.63 share price. The 8 months technical chart setup indicates low risk for the $198.63 million company. The gap was reported on Nov, 7 by Barchart.com. If the $4.94 price target is reached, the company will be worth $174.79M 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 1.14M shares traded hands. Organigram Holdings Inc (CVE:OGI) has risen 6.00% since October 8, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More notable recent Organigram Holdings Inc (CVE:OGI) news were published by: Marketwatch.com which released: “OrganiGram Holdings Inc. Announces Issuance of Stock Options” on June 28, 2016, also Marketwired.com with their article: “OrganiGram Holdings Inc. Receives License to Sell Oil Extracts” published on June 22, 2016, Marketwired.com published: “OrganiGram Holdings Announces $17.5 Million Bought Deal” on August 03, 2016. More interesting news about Organigram Holdings Inc (CVE:OGI) were released by: Seekingalpha.com and their article: “Organigram: A Win-Win In The Canadian Cannabis Group” published on September 21, 2016 as well as Business.Financialpost.com‘s news article titled: “Podcast: Organigram Holdings Inc CEO Denis Arsenault on preparing for the …” with publication date: May 13, 2016.
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