The stock of TD SP 500 CAD HEDGE INDEX ETF (TSE:THU) gapped down by $0.27 today and has $13.65 target or 13.00% below today’s $15.69 share price. The 6 months technical chart setup indicates high risk for the $3.19 million company. The gap down was reported on Sep, 13 by Barchart.com. If the $13.65 price target is reached, the company will be worth $414,700 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 20,040 shares traded hands or 807.20% up from the average. TD SP 500 CAD HEDGE INDEX ETF (TSE:THU) has risen 6.00% since August 14, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
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