FIRST ASSET CANBANC INCOME CLASS ETF on Focus After Gap Up In Today’s Session

 FIRST ASSET CANBANC INCOME CLASS ETF on Focus After Gap Up In Today's Session

The stock of FIRST ASSET CANBANC INCOME CLASS ETF (TSE:CIC) gapped up by $0.01 today and has $23.48 target or 114.00% above today’s $10.97 share price. The 6 months technical chart setup indicates low risk for the $142.16M company. The gap was reported on Oct, 31 by Barchart.com. If the $23.48 price target is reached, the company will be worth $162.06M 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 20,200 shares traded hands or 165.06% up from the average. FIRST ASSET CANBANC INCOME CLASS ETF (TSE:CIC) has risen 7.77% since March 24, 2016 and is uptrending. It has outperformed by 4.29% the S&P500.

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