The stock of RepliCel Life Sciences Inc (CVE:RP) gapped down by $0.03 today and has $0.77 target or 8.00% below today’s $0.84 share price. The 5 months technical chart setup indicates high risk for the $11.38 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $0.77 price target is reached, the company will be worth $910,400 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 23,000 shares traded hands or 93.39% up from the average. RepliCel Life Sciences Inc (CVE:RP) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More recent RepliCel Life Sciences Inc (CVE:RP) news were published by: Marketwired.com which released: “RepliCel Life Sciences Announces Closing of Private Placement” on October 31, 2016. Also Midasletter.com published the news titled: “RepliCel Life Sciences Inc. CEO David Hall Interview and Podcast” on October 23, 2014. Prnewswire.com‘s news article titled: “RepliCel Life Sciences Unveils Innovative Dermal Injector Prototype” with publication date: July 29, 2015 was also an interesting one.
RepliCel Life Sciences Inc. is a regenerative medicine firm focused on developing autologous cell therapies that treat functional cellular deficits. The company has a market cap of $11.38 million. The Company’s product pipeline includes RCT-01-Tendon Repair, RCS-01-Skin Rejuvenation, RCH-01-Hair Regeneration and RCI-02-Dermal Injector. It currently has negative earnings. RCT-01 is an autologous cell treatment utilizing non-bulbar dermal sheath cells isolated from the hair follicle sheath to treat chronic tendinosis caused by acute and chronic tensile overuse.
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