The stock of RBC CANADIAN PREFERRED SHARE ETF (TSE:RPF) gapped up by $0.05 today and has $57.06 target or 173.00% above today’s $20.90 share price. The 9 months technical chart setup indicates low risk for the $28.15 million company. The gap was reported on Oct, 31 by Barchart.com. If the $57.06 price target is reached, the company will be worth $48.70M 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 10,600 shares traded hands. RBC CANADIAN PREFERRED SHARE ETF (TSE:RPF) has risen 6.00% since October 1, 2016 and is uptrending. It has outperformed by 2.53% the S&P500.
More notable recent RBC CANADIAN PREFERRED SHARE ETF (TSE:RPF) news were published by: Theglobeandmail.com which released: “RBC launches new income ETFs as talk swirls it will launch its own robo-adviser” on September 20, 2016, also Theglobeandmail.com with their article: “Lowly preferred shares an intriguing bet for the brave investor” published on February 13, 2016, Business.Financialpost.com published: “Falling fees, more choices and the rise of preferred shares funds: ETF trends …” on October 07, 2016. More interesting news about RBC CANADIAN PREFERRED SHARE ETF (TSE:RPF) were released by: Marketwatch.com and their article: “RBC Global Asset Management Opens the Market” published on September 27, 2016 as well as Seekingalpha.com‘s news article titled: “How To Make 9%+ Annually With Canada’s Big Bank Preferreds” with publication date: March 01, 2016.
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