Some Traders Are Very Bearish on UBS IQ Research Preferred Australian Dividend Fund After Today’s Gap Down

 Some Traders Are Very Bearish on UBS IQ Research Preferred Australian Dividend Fund After Today's Gap Down

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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