Could Aphria Inc See a Reversal After Having a Gap Up Today?

 Could Aphria Inc See a Reversal After Having a Gap Up Today?

The stock of Aphria Inc (CVE:APH) gapped up by $0.24 today and has $10.10 target or 58.00% above today’s $6.39 share price. The 9 months technical chart setup indicates low risk for the $754.72 million company. The gap was reported on Nov, 16 by Barchart.com. If the $10.10 price target is reached, the company will be worth $437.74 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 5.38M shares traded hands or 115.20% up from the average. Aphria Inc (CVE:APH) has risen 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.

More important recent Aphria Inc (CVE:APH) news were published by: Seekingalpha.com which released: “Aphria: Its Low Cost Production Could Give It High Returns” on November 12, 2016, also Marketwired.com published article titled: “Aphria Inc. Announces $35 Million Bought Deal”, Seekingalpha.com published: “The Most Compelling Marijuana Investment: Aphria” on June 01, 2016. More interesting news about Aphria Inc (CVE:APH) was released by: Midasletter.com and their article: “Aphria Inc. CEO Vic Neufeld on Canopy Growth, Organigram and Recreational …” with publication date: November 10, 2015.

Aphria Inc., formerly Black Sparrow Capital Corp., is a Canada company, which is engaged in producing and selling medical marijuana through retail sales and wholesale channels. The company has a market cap of $754.72 million. The Company’s retail sales are primarily sold through the Company’s online store, as well as telephone orders. It has a 264.38 P/E ratio. The Company’s wholesale shipments are sold to other Medical Purposes Regulations Licensed Producers.

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