The stock of Greenspace Brands Inc (CVE:JTR) gapped down by $0.02 today and has $0.96 target or 14.00% below today’s $1.12 share price. The 7 months technical chart setup indicates high risk for the $47.70M company. The gap down was reported on Nov, 8 by Barchart.com. If the $0.96 price target is reached, the company will be worth $6.68M 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 22,800 shares traded hands. Greenspace Brands Inc (CVE:JTR) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
Another recent and important Greenspace Brands Inc (CVE:JTR) news was published by Marketwired.com which published an article titled: “GreenSpace Brands Announces Acquisition of Love Child and Closing of First …” on October 19, 2015.
GreenSpace Brands Inc., formerly Aumento IV Capital Corporation, is an organic and natural food company. The company has a market cap of $47.70 million. The Firm is engaged in creating natural food products and brands for sale into the Canadian natural food industry. It currently has negative earnings. The Firm is engaged in the business of developing, marketing and selling convenient and natural foods.
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