CANADIAN CRUDE OIL INDEX ETF’s Trend Up, Especially After Today’s Gap Up

 CANADIAN CRUDE OIL INDEX ETF's Trend Up, Especially After Today's Gap Up

The stock of CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) gapped up by $0.02 today and has $17.28 target or 95.00% above today’s $8.86 share price. The 7 months technical chart setup indicates low risk for the $17.00M company. The gap was reported on Oct, 19 by Barchart.com. If the $17.28 price target is reached, the company will be worth $16.15M 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%. About 39,075 shares traded hands or 305.09% up from the average. CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) has risen 7.87% since March 17, 2016 and is uptrending. It has outperformed by 2.32% the S&P500.

More notable recent CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) news were published by: Theglobeandmail.com which released: “New ETF to track Canadian crude oil pricing” on May 10, 2015, also Prnewswire.com with their article: “USCF Announces Collaboration On Canadian Crude Oil ETF With Auspice Capital …” published on June 17, 2016, Etftrends.com published: “US Commodity Funds Planning Canadian Crude ETF” on June 20, 2016. More interesting news about CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) were released by: Business.Financialpost.com and their article: “Shedding light on domestic oil prices: New ETF will track Western Canadian …” published on May 04, 2015 as well as Business.Financialpost.com‘s news article titled: “Take two: Is investing in commodities worth the effort and hand-wringing?” with publication date: April 18, 2016.

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