The stock of ISHARES SILVER BULLION ETF HDG (TSE:SVR) gapped down by $0.09 today and has $9.10 target or 11.00% below today’s $10.22 share price. The 8 months technical chart setup indicates high risk for the $49.07M company. The gap down was reported on Nov, 3 by Barchart.com. If the $9.10 price target is reached, the company will be worth $5.40M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 19,710 shares traded hands or 39.31% up from the average. ISHARES SILVER BULLION ETF HDG (TSE:SVR) has risen 19.56% since March 30, 2016 and is uptrending. It has outperformed by 18.35% the S&P500.
More recent ISHARES SILVER BULLION ETF HDG (TSE:SVR) news were published by: Theglobeandmail.com which released: “The Globe and Mail” on July 11, 2010. Also Fool.ca published the news titled: “3 Reasons Why I Am Bullish on Silver” on August 18, 2014. Zacks.com‘s news article titled: “Gold ETF Investing: 10 Facts Investors Need to Know” with publication date: June 09, 2016 was also an interesting one.
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