Some Traders Are Very Bearish on Zomedica Pharmaceuticals Corp After Today’s Gap Down

 Some Traders Are Very Bearish on Zomedica Pharmaceuticals Corp After Today's Gap Down

The stock of Zomedica Pharmaceuticals Corp (CVE:ZOM) gapped down by $0.03 today and has $1.33 target or 3.00% below today’s $1.37 share price. The 6 months technical chart setup indicates high risk for the $106.82M company. The gap down was reported on Nov, 29 by Barchart.com. If the $1.33 price target is reached, the company will be worth $3.20M 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 9,710 shares traded hands or 11.97% up from the average. Zomedica Pharmaceuticals Corp (CVE:ZOM) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.

More notable recent Zomedica Pharmaceuticals Corp (CVE:ZOM) news were published by: Globenewswire.com which released: “Zomedica Pharmaceuticals Corp. Announces Third Quarter 2016 Financial Results” on November 22, 2016, also Marketwatch.com with their article: “Zomedica Pharmaceuticals Corp. Opens the Market” published on May 03, 2016, Globenewswire.com published: “Zomedica Pharmaceuticals Corp. Announces First Quarter 2016 Financial Results …” on May 26, 2016. More interesting news about Zomedica Pharmaceuticals Corp (CVE:ZOM) were released by: Reuters.com and their article: “BRIEF-Zomedica Pharmaceuticals Q3 loss per share $0.01” published on March 31, 2016 as well as Globenewswire.com‘s news article titled: “Zomedica Announces Completion of Qualifying Transaction” with publication date: April 27, 2016.

Zomedica Pharmaceuticals Corp., formerly Wise Oakwood Ventures Inc., is a Canada veterinary pharmaceutical company. The company has a market cap of $106.82 million. The Firm focuses on health and wellness solutions for companion animals, such as canine, feline and equine. It currently has negative earnings. The Firm is engaged in building a portfolio of products comprised of the discovery, development and commercialization of drugs alongside drug delivery systems, devices and diagnostics.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment