Is Selling RBC QUANT CDN DIVIDEND LEADERS ETF Here a Winning Strategy? The Stock Just Gapped Down


The stock of RBC QUANT CDN DIVIDEND LEADERS ETF (TSE:RCD) gapped down by $0.12 today and has $16.74 target or 13.00% below today’s $19.24 share price. The 8 months technical chart setup indicates high risk for the $96.38M company. The gap down was reported on Sep, 14 by If the $16.74 price target is reached, the company will be worth $12.53 million 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%. The ETF decreased 1.18% or $0.23 on September 13, hitting $19.24. About 10,669 shares traded hands. RBC QUANT CDN DIVIDEND LEADERS ETF (TSE:RCD) has risen 16.24% since February 10, 2016 and is uptrending. It has underperformed by 0.25% the S&P500.

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