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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