The stock of LYXOR INTERNATIONAL ASSET MANAGEMENT LYXOR UCITS ETF CAC 40 (LON:CACX) gapped up by GBX 27.69 today and has GBX 10251.48 target or 155.00% above today’s GBX 4020.19 share price. The 6 months technical chart setup indicates low risk for the GBX company. The gap was reported on Oct, 28 by Barchart.com. If the GBX 10251.48 price target is reached, the company will be worth GBX 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%. The ETF increased 0.69% or GBX 27.69 on October 28, hitting GBX 4020.19. About 275,000 shares traded hands or 378.68% up from the average. LYXOR INTERNATIONAL ASSET MANAGEMENT LYXOR UCITS ETF CAC 40 (LON:CACX) has risen 15.31% since March 16, 2016 and is uptrending. It has outperformed by 10.59% the S&P500.
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