The stock of FA SHORT TERM GOVT BOND INDEX CLASS ETF (TSE:FGB) gapped down by $0.01 today and has $17.40 target or 12.00% below today’s $19.77 share price. The 9 months technical chart setup indicates high risk for the $61.32 million company. The gap down was reported on Oct, 19 by Barchart.com. If the $17.40 price target is reached, the company will be worth $7.36M 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 14,000 shares traded hands or 50.30% up from the average. FA SHORT TERM GOVT BOND INDEX CLASS ETF (TSE:FGB) has declined 1.05% since March 14, 2016 and is downtrending. It has underperformed by 6.59% the S&P500.
More notable recent FA SHORT TERM GOVT BOND INDEX CLASS ETF (TSE:FGB) news were published by: Cnbc.com which released: “A key asset class most investors completely ignore” on September 02, 2015, also Cnbc.com with their article: “Choosing between bonds and bond funds” published on April 10, 2014, Cnbc.com published: “Last time market made a bond bet this big: 2003” on February 01, 2016. More interesting news about FA SHORT TERM GOVT BOND INDEX CLASS ETF (TSE:FGB) were released by: Forbes.com and their article: “10 Best ETF Buys Of The Decade From 10 Investment Pros” published on October 04, 2015 as well as Nasdaq.com‘s news article titled: “Top Performing Bond ETFs of 1H” with publication date: June 29, 2016.
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