Traders Are Bullish Aurora Cannabis Inc After Today’s Gap Up

 Traders Are Bullish Aurora Cannabis Inc After Today's Gap Up

The stock of Aurora Cannabis Inc (CVE:ACB) gapped up by $0.26 today and has $5.48 target or 63.00% above today’s $3.36 share price. The 9 months technical chart setup indicates low risk for the $1.05B company. The gap was reported on Nov, 16 by Barchart.com. If the $5.48 price target is reached, the company will be worth $661.50 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 17.84M shares traded hands or 315.85% up from the average. Aurora Cannabis Inc (CVE:ACB) has risen 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% 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 $1.05 billion. 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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