Emerald Health Therapeutics Inc Could Burn Your Portfolio. Has Another Gap Down

 Emerald Health Therapeutics Inc Could Burn Your Portfolio. Has Another Gap Down

The stock of Emerald Health Therapeutics Inc (CVE:EMH) gapped down by $0.07 today and has $1.01 target or 6.00% below today’s $1.07 share price. The 5 months technical chart setup indicates high risk for the $72.73 million company. The gap down was reported on Nov, 22 by Barchart.com. If the $1.01 price target is reached, the company will be worth $4.36M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 885,591 shares traded hands or 66.00% up from the average. Emerald Health Therapeutics Inc (CVE:EMH) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.

More important recent Emerald Health Therapeutics Inc (CVE:EMH) news were published by: Marketwatch.com which released: “Emerald Health Therapeutics Announces Completion of Private Placement” on November 16, 2016, also Marketwatch.com published article titled: “Emerald Health Therapeutics Completes Private Placement and Shares for Debt …”, Reuters.com published: “BRIEF-Emerald Health announces no material change” on May 30, 2016. More interesting news about Emerald Health Therapeutics Inc (CVE:EMH) was released by: Bloomberg.com and their article: “Canopy Growth Falls After Wild Ride for Canadian Weed Stocks” with publication date: November 16, 2016.

Emerald Health Therapeutics, Inc., formerly T-Bird Pharma Inc., is a Canada company, which through its subsidiary, Emerald Health Botanicals Inc. , is engaged in the production and sale of medical marihuana. The company has a market cap of $72.73 million. The Company’s segment is production and sales of medical marihuana pursuant to the Marihuana for Medical Purposes Regulations. It currently has negative earnings. Botanicals produces cannabis oils and capsules.

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