What’s Propelling Organigram Holdings Inc to Increase So Much? The Stock Gaps Up Today

 What's Propelling Organigram Holdings Inc to Increase So Much? The Stock Gaps Up Today

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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