The stock of ETFS FOREIGN EXCHANGE LIMITED ETFS 5X SHORT USD LONG GBP (LON:PUS5) gapped up by GBX 19.53 today and has GBX 2313.12 target or 137.00% above today’s GBX 976.00 share price. The 5 months technical chart setup indicates low risk for the GBX company. The gap was reported on Oct, 18 by Barchart.com. If the GBX 2313.12 price target is reached, the company will be worth GBX more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The ETF increased 2.15% or GBX 20.5 on October 18, hitting GBX 976. About 52,801 shares traded hands or 426.90% up from the average. ETFS FOREIGN EXCHANGE LIMITED ETFS 5X SHORT USD LONG GBP (LON:PUS5) has declined 72.28% since March 9, 2016 and is downtrending. It has underperformed by 77.76% the S&P500.
More news for ETFS FOREIGN EXCHANGE LIMITED ETFS 5X SHORT USD LONG GBP (LON:PUS5) were recently published by: Economictimes.Indiatimes.com, which released: “Edelweiss Asset Management to acquire JP Morgan’s Mutual Fund” on March 22, 2016. Seekingalpha.com‘s article titled: “First Majestic Silver Corp.: Valuation Up In The Clouds, But No Silver Lining” and published on September 01, 2016 is yet another important article.
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