Can PowerShares Canada Preferred Share Index ETF’s Tomorrow be Different? The Stock Just Gapped Up

 Can PowerShares Canada Preferred Share Index ETF's Tomorrow be Different? The Stock Just Gapped Up

The stock of PowerShares Canada Preferred Share Index ETF (TSE:PPS) gapped up by $0.06 today and has $20.98 target or 44.00% above today’s $14.57 share price. The 6 months technical chart setup indicates low risk for the $144.84M company. The gap was reported on Nov, 1 by Barchart.com. If the $20.98 price target is reached, the company will be worth $63.73M 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 18,900 shares traded hands or 876.24% up from the average. PowerShares Canada Preferred Share Index ETF (TSE:PPS) has risen 5.14% since March 28, 2016 and is uptrending. It has outperformed by 2.13% the S&P500.

More notable recent PowerShares Canada Preferred Share Index ETF (TSE:PPS) news were published by: Theglobeandmail.com which released: “Lowly preferred shares an intriguing bet for the brave investor” on February 13, 2016, also Marketwatch.com with their article: “Invesco announces cash distributions for Canadian-listed PowerShares ETFs” published on August 19, 2016, Business.Financialpost.com published: “Preferred shares an attractive alternative to bonds, stocks” on October 29, 2012. More interesting news about PowerShares Canada Preferred Share Index ETF (TSE:PPS) were released by: Etftrends.com and their article: “Preferred Stock ETFs with High Yields” published on September 06, 2012 as well as Etftrends.com‘s news article titled: “Van Eck Launches Non-Financial Preferred Stock ETF” with publication date: July 18, 2012.

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