Could ISHARES GOLD BULLION ETF HDG See a Reversal After Having a Gap Up Today?

 Could ISHARES GOLD BULLION ETF HDG See a Reversal After Having a Gap Up Today?

The stock of ISHARES GOLD BULLION ETF HDG (TSE:CGL) gapped up by $0.03 today and has $20.79 target or 84.00% above today’s $11.30 share price. The 6 months technical chart setup indicates low risk for the $343.12 million company. The gap was reported on Nov, 1 by Barchart.com. If the $20.79 price target is reached, the company will be worth $288.22 million 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 43,321 shares traded hands. ISHARES GOLD BULLION ETF HDG (TSE:CGL) has risen 4.17% since March 28, 2016 and is uptrending. It has outperformed by 1.15% the S&P500.

More recent ISHARES GOLD BULLION ETF HDG (TSE:CGL) news were published by: Theglobeandmail.com which released: “The Globe and Mail” on July 11, 2010. Also Zacks.com published the news titled: “Gold ETF Investing: 10 Facts Investors Need to Know” on June 09, 2016. Fool.ca‘s news article titled: “3 Reasons Why I Am Bullish on Silver” with publication date: August 18, 2014 was also an interesting one.

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