Bearish Gap Down for Canadian World Fund Limited After Worse Fundamentals

 Bearish Gap Down for Canadian World Fund Limited After Worse Fundamentals

The stock of Canadian World Fund Limited (TSE:CWF) gapped down by $0.03 today and has $4.15 target or 10.00% below today’s $4.61 share price. The 6 months technical chart setup indicates high risk for the $33.15M company. The gap down was reported on Oct, 17 by Barchart.com. If the $4.15 price target is reached, the company will be worth $3.32 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 16,000 shares traded hands or 4537.68% up from the average. Canadian World Fund Limited (TSE:CWF) has declined 0.64% since March 10, 2016 and is downtrending. It has underperformed by 6.25% the S&P500.

More notable recent Canadian World Fund Limited (TSE:CWF) news were published by: Benzinga.com which released: “New US$500 Million Global Health Sciences Venture Fund to Be Based in Vancouver” on October 17, 2016, also Wsj.com with their article: “AIG in Talks to Sell Lloyd’s Insurance Operations to Canada Pension Fund” published on August 23, 2016, Bloomberg.com published: “Glencore Sells Agri Stake to Canadian Fund for $625 Million” on June 08, 2016. More interesting news about Canadian World Fund Limited (TSE:CWF) were released by: Bloomberg.com and their article: “Canadian Fund Still Weighing Reliance Infra Deal After Deadline” published on May 06, 2016 as well as Wsj.com‘s news article titled: “AIG to Sell Lloyd’s Insurance Operations to Canada Pension Fund” with publication date: September 16, 2016.

Canadian World Fund Limited is a Canada closed-end equity fund. The company has a market cap of $33.15 million. The Company’s objective is to provide its investors with long-term returns by investing across the globe in securities of primarily publicly traded growth companies. It currently has negative earnings. The Firm investment portfolio includes various sectors, such as financials, consumer discretionary, industrials, information technology, healthcare, cash and cash equivalents, energy, consumer staples, materials and utilities.

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