The stock of Aphria Inc (CVE:APH) gapped up by $0.17 today and has $9.26 target or 36.00% above today’s $6.81 share price. The 6 months technical chart setup indicates low risk for the $826.89 million company. The gap was reported on Nov, 18 by Barchart.com. If the $9.26 price target is reached, the company will be worth $297.68 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 1.53M shares traded hands. Aphria Inc (CVE:APH) has risen 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.
More 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 Investorideas.com published the news titled: “Medical #Cannabis News: Aphria Inc. (TSX VENTURE: $APH) (OTCQB: $APHQF …” on November 11, 2016. Seekingalpha.com‘s news article titled: “The Most Compelling Marijuana Investment: Aphria” with publication date: June 01, 2016 was also an interesting one.
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 $826.89 million. The Company’s retail sales are primarily sold through the Company’s online store, as well as telephone orders. It has a 281.75 P/E ratio. The Company’s wholesale shipments are sold to other Medical Purposes Regulations Licensed Producers.
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