Aurora Cannabis Inc’s Big Gap Up Today Points to Less Stock Risks

 Aurora Cannabis Inc's Big Gap Up Today Points to Less Stock Risks

The stock of Aurora Cannabis Inc (CVE:ACB) gapped up by $0.02 today and has $3.72 target or 66.00% above today’s $2.24 share price. The 7 months technical chart setup indicates low risk for the $577.97 million company. The gap was reported on Nov, 15 by Barchart.com. If the $3.72 price target is reached, the company will be worth $381.46 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 3.18 million shares traded hands. Aurora Cannabis Inc (CVE:ACB) has risen 6.00% since October 16, 2016 and is uptrending. It has outperformed by 2.07% the S&P500.

More recent Aurora Cannabis Inc (CVE:ACB) news were published by: Seekingalpha.com which released: “Aurora Cannabis: Overvalued + A Misleading Management Team = SHORT” on November 08, 2016. Also Seekingalpha.com published the news titled: “Aurora Cannabis: An Execution Story” on September 16, 2016. Seekingalpha.com‘s news article titled: “Aurora Cannabis: Poised To Dominate Canadian Marijuana” with publication date: September 28, 2016 was also an interesting one.

Aurora Cannabis Inc. is engaged in the production and sale of medical cannabis. The company has a market cap of $577.97 million. The Firm is engaged in the business of producing and distributing medical marijuana pursuant to the Access to Cannabis for Medical Purposes Regulations . It currently has negative earnings. The Company’s product types include Tetrahydrocannabinol (THC), Cannabidiole (CBD), indica, sativa and hybrid.

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