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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