The stock of VANGUARD FTSE DEV EUROPE ALL CAP IDX (TSE:VE) gapped down by $0.02 today and has $22.10 target or 11.00% below today’s $24.83 share price. The 5 months technical chart setup indicates high risk for the $112.42 million company. The gap down was reported on Sep, 13 by Barchart.com. If the $22.10 price target is reached, the company will be worth $12.37M 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 27,652 shares traded hands or 383.68% up from the average. VANGUARD FTSE DEV EUROPE ALL CAP IDX (TSE:VE) has risen 1.17% since February 5, 2016 and is uptrending. It has underperformed by 15.32% the S&P500.
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