The stock of UBS IQ Research Preferred Australian Dividend Fund (ASX:DIV) gapped down by $0.17 today and has $16.59 target or 13.00% below today’s $19.07 share price. The 6 months technical chart setup indicates high risk for the $ company. The gap down was reported on Oct, 19 by Barchart.com. If the $16.59 price target is reached, the company will be worth $ 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%. The stock decreased 0.88% or $0.17 on October 19, hitting $19.07. About 25,000 shares traded hands or 4661.90% up from the average. UBS IQ Research Preferred Australian Dividend Fund (ASX:DIV) has declined 8.29% since May 7, 2015 and is downtrending. It has underperformed by 13.84% the S&P500.
More important recent UBS IQ Research Preferred Australian Dividend Fund (ASX:DIV) news were published by: Fool.com.Au which released: “What is the Vanguard Australian Share Index ETF?” on November 10, 2015, also Smh.com.Au published article titled: “Find the missing pieces of your portfolio”, Ft.com published: “BofA sets aside $500m reserve for energy losses” on January 19, 2016. More interesting news about UBS IQ Research Preferred Australian Dividend Fund (ASX:DIV) was released by: Ft.com and their article: “Deepwater charge and falling oil prices push BP into $6.3bn loss” with publication date: July 28, 2015.
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