The stock of Zomedica Pharmaceuticals Corp (CVE:ZOM) gapped down by $0.02 today and has $1.50 target or 11.00% below today’s $1.69 share price. The 5 months technical chart setup indicates high risk for the $141.08M company. The gap down was reported on Nov, 11 by Barchart.com. If the $1.50 price target is reached, the company will be worth $15.52 million 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 27,300 shares traded hands or 485.71% up from the average. Zomedica Pharmaceuticals Corp (CVE:ZOM) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.
More notable recent Zomedica Pharmaceuticals Corp (CVE:ZOM) news were published by: Marketwatch.com which released: “Zomedica Pharmaceuticals Corp. Opens the Market” on May 03, 2016, also Globenewswire.com with their article: “Zomedica Pharmaceuticals Corp. Announces First Quarter 2016 Financial Results …” published on May 26, 2016, Globenewswire.com published: “Zomedica Announces Completion of Qualifying Transaction” on April 27, 2016. More interesting news about Zomedica Pharmaceuticals Corp (CVE:ZOM) were released by: Crainsdetroit.com and their article: “Zomedica aims to specialize in pet pharma” published on August 28, 2016 as well as Globenewswire.com‘s news article titled: “ZoMedica To Complete Listing Transaction on TSX Venture Exchange” with publication date: April 13, 2016.
Zomedica Pharmaceuticals Corp., formerly Wise Oakwood Ventures Inc., is a Canada veterinary pharmaceutical company. The company has a market cap of $141.08 million. The Firm focuses on health and wellness solutions for companion animals, such as canine, feline and equine. It currently has negative earnings. The Firm is engaged in building a portfolio of products comprised of the discovery, development and commercialization of drugs alongside drug delivery systems, devices and diagnostics.
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