The stock of Hempco Food and Fiber Inc (CVE:HFF) gapped down by $0.01 today and has $0.69 target or 10.00% below today’s $0.77 share price. The 7 months technical chart setup indicates high risk for the $26.15M company. The gap down was reported on Nov, 11 by Barchart.com. If the $0.69 price target is reached, the company will be worth $2.62M 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 100,865 shares traded hands. Hempco Food and Fiber Inc (CVE:HFF) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.
More news for Hempco Food and Fiber Inc (CVE:HFF) were recently published by: Business.Financialpost.com, which released: “Another chapter begins in the Quinsam revival” on September 09, 2016. Business.Financialpost.com‘s article titled: “Deutsche Bank whistleblower spurns US$8 million SEC reward because regulator …” and published on August 19, 2016 is yet another important article.
Hempco Food and Fiber Inc., formerly Genview Capital Corp., is a Canada company, which provides hemp seed foods for humans and animals. The company has a market cap of $26.15 million. The Firm is engaged in hemp seed food research and development, manufacturing, distribution and marketing. It currently has negative earnings. The Company’s products include Hemp Protein Powder, Hemp Seed Oil and Hulled Hemp Seed Nut.
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