The stock of Organigram Holdings Inc (CVE:OGI) gapped up by $0.02 today and has $8.67 target or 124.00% above today’s $3.87 share price. The 5 months technical chart setup indicates low risk for the $313.50 million company. The gap was reported on Nov, 18 by Barchart.com. If the $8.67 price target is reached, the company will be worth $388.74M 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 1.58M shares traded hands. Organigram Holdings Inc (CVE:OGI) has risen 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.
More notable recent Organigram Holdings Inc (CVE:OGI) news were published by: Marketwired.com which released: “OrganiGram Holdings Inc. Announces No Material Change” on November 14, 2016, also Marketwired.com with their article: “OrganiGram Holdings Announces $35 Million Bought Deal” published on November 15, 2016, Marketwatch.com published: “OrganiGram Holdings Inc. Announces Issuance of Stock Options” on June 28, 2016. More interesting news about Organigram Holdings Inc (CVE:OGI) were released by: Marketwired.com and their article: “OrganiGram Holdings Inc. Receives License to Sell Oil Extracts” published on June 22, 2016 as well as Marketwired.com‘s news article titled: “OrganiGram Holdings Announces $17.5 Million Bought Deal” with publication date: August 03, 2016.
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