The stock of VANGUARD CDN AGGREGATE BOND INDEX ETF (TSE:VAB) gapped down by $0.02 today and has $23.78 target or 9.00% below today’s $26.13 share price. The 8 months technical chart setup indicates high risk for the $1.02 billion company. The gap down was reported on Sep, 13 by Barchart.com. If the $23.78 price target is reached, the company will be worth $91.80 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%. About 46,341 shares traded hands. VANGUARD CDN AGGREGATE BOND INDEX ETF (TSE:VAB) has risen 1.43% since February 5, 2016 and is uptrending. It has underperformed by 15.06% the S&P500.
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