Some Traders Are Very Bullish on ISHARES GOLD BULLION ETF HDG After Today’s Gap Up

 Some Traders Are Very Bullish on ISHARES GOLD BULLION ETF HDG After Today's Gap Up

The stock of ISHARES GOLD BULLION ETF HDG (TSE:CGL) gapped up by $0.02 today and has $33.66 target or 194.00% above today’s $11.45 share price. The 6 months technical chart setup indicates low risk for the $344.34 million company. The gap was reported on Nov, 2 by Barchart.com. If the $33.66 price target is reached, the company will be worth $668.02M 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 517,825 shares traded hands or 800.03% up from the average. ISHARES GOLD BULLION ETF HDG (TSE:CGL) has risen 2.73% since March 29, 2016 and is uptrending. It has outperformed by 0.21% 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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