The stock of iSHARES CANADIAN GOVT BOND INDEX ETF (TSE:XGB) gapped down by $0.03 today and has $20.14 target or 10.00% below today’s $22.38 share price. The 7 months technical chart setup indicates high risk for the $396.66M company. The gap down was reported on Oct, 18 by Barchart.com. If the $20.14 price target is reached, the company will be worth $39.67M 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 10,445 shares traded hands. iSHARES CANADIAN GOVT BOND INDEX ETF (TSE:XGB) has risen 1.63% since March 11, 2016 and is uptrending. It has underperformed by 3.85% the S&P500.
More notable recent iSHARES CANADIAN GOVT BOND INDEX ETF (TSE:XGB) news were published by: Marketwired.com which released: “BlackRock® Canada Announces August Cash Distributions for the iShares® ETFs” on August 15, 2016, also Marketwired.com with their article: “BlackRock(R) Canada Announces July Cash Distributions for the iShares(R) ETFs” published on April 22, 2016, Marketwired.com published: “BlackRock(R) Canada Announces May Cash Distributions for the iShares(R) ETFs” on May 12, 2016. More interesting news about iSHARES CANADIAN GOVT BOND INDEX ETF (TSE:XGB) were released by: Marketwired.com and their article: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” published on June 08, 2016 as well as Marketwired.com‘s news article titled: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” with publication date: September 07, 2016.
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