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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