The stock of Theratechnologies Inc (TSE:TH) gapped down by $0.26 today and has $2.64 target or 14.00% below today’s $3.07 share price. The 9 months technical chart setup indicates high risk for the $204.19M company. The gap down was reported on Nov, 15 by Barchart.com. If the $2.64 price target is reached, the company will be worth $28.59 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 435,100 shares traded hands or 211.10% up from the average. Theratechnologies Inc (TSE:TH) has risen 71.14% since April 11, 2016 and is uptrending. It has outperformed by 67.22% the S&P500.
More news for Theratechnologies Inc (TSE:TH) were recently published by: Marketwatch.com, which released: “Theratechnologies Inc.” on April 24, 2011. Marketwired.com‘s article titled: “Theratechnologies Inc.: Mexico Approves the 1mg/vial Presentation of EGRIFTA(R …” and published on March 08, 2016 is yet another important article.
Theratechnologies Inc. is a Canada-based specialty pharmaceutical company. The company has a market cap of $204.19 million. The Firm addresses medical needs in metabolic disorders to promote healthy ageing among human immunodeficiency virus patients. It has a 281.65 P/E ratio. The Company’s product, EGRIFTA (tesamorelin for injection), is used for the reduction of excess abdominal fat in HIV-infected patients with lipodystrophy.
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