The stock of iShares Dow Jns Cnd Slct Dvdnd Indx Fnd (TSE:XDV) gapped down by $0.06 today and has $20.92 target or 7.00% below today’s $22.49 share price. The 9 months technical chart setup indicates high risk for the $1.40B company. The gap down was reported on Sep, 13 by Barchart.com. If the $20.92 price target is reached, the company will be worth $98.00 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 39,775 shares traded hands or 28.27% up from the average. iShares Dow Jns Cnd Slct Dvdnd Indx Fnd (TSE:XDV) has risen 10.54% since February 5, 2016 and is uptrending. It has underperformed by 5.95% the S&P500.
iShares Dow Jones Canada Select Dividend Index Fund, formerly iShares CDN Dow Jones Canada Select Dividend Index Fund, seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the Dow Jones Canada Select Dividend Index through investments in the constituent issuers of such Index. The company has a market cap of $1.40 billion. The Index consists of 30 of the highest yielding, dividend-paying companies in the Dow Jones Canada Total Market Index, as selected by Dow Jones using a rules methodology, including an analysis of dividend growth, yield and average payout ratio. It currently has negative earnings. In the Index, the weight of any one company, in terms of market capitalization, is limited to 10%.
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