Is Buying Stock Like Medicure Inc After Such Gap Up a Winning Strategy?

 Is Buying Stock Like Medicure Inc After Such Gap Up a Winning Strategy?

The stock of Medicure Inc (CVE:MPH) gapped up by $1.16 today and has $13.09 target or 70.00% above today’s $7.70 share price. The 5 months technical chart setup indicates low risk for the $123.72M company. The gap was reported on Nov, 18 by Barchart.com. If the $13.09 price target is reached, the company will be worth $86.60M 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 121,261 shares traded hands or 633.80% up from the average. Medicure Inc (CVE:MPH) has risen 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.

More recent Medicure Inc (CVE:MPH) news were published by: Streetinsider.com which released: “Medicure (MCUJF) Unit to Acquire Majority Stake in Apicore” on November 18, 2016. Also Midasletter.com published the news titled: “S&P/TSX Venture Composite Index Movers: GoldMoney Inc., Medicure Inc …” on February 02, 2016. Seekingalpha.com‘s news article titled: “Undervalued And Underfollowed; Medicure Is My Favorite Pharma Small Cap” with publication date: February 17, 2016 was also an interesting one.

Medicure Inc. is a pharmaceutical firm engaged in the research, clinical development and commercialization of human therapeutics. The company has a market cap of $123.72 million. The Firm operates in the biopharmaceutical industry segment. It has a 27.14 P/E ratio. The Company’s primary operating focus is on the sale and marketing of its acute care cardiovascular drug, AGGRASTAT (tirofiban hydrochloride) owned by its subsidiary, Medicure International, Inc. and distributed in the United States and its territories through the Company’s United States subsidiary, Medicure Pharma, Inc.

MPH.V Company Profile

Medicure Inc. (Medicure), incorporated on February 23, 2000, is a pharmaceutical firm engaged in the research, clinical development and commercialization of human therapeutics. The Firm operates in the biopharmaceutical industry segment. The Company’s primary operating focus is on the sale and marketing of its acute care cardiovascular drug, AGGRASTAT (tirofiban hydrochloride) owned by its subsidiary, Medicure International, Inc. and distributed in the United States and its territories through the Company’s United States subsidiary, Medicure Pharma, Inc. The Firm is also engaged in the development of TARDOXAL for neurological disorders, such as Tardive Dyskinesia (TD).

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