Traders Are Bearish iSHARES SP TSX SMALLCAP INDEX ETF After Today’s Gap Down

 Traders Are Bearish iSHARES SP TSX SMALLCAP INDEX ETF After Today's Gap Down

The stock of iSHARES SP TSX SMALLCAP INDEX ETF (TSE:XCS) gapped down by $0.02 today and has $13.57 target or 13.00% below today’s $15.60 share price. The 9 months technical chart setup indicates high risk for the $128.25M company. The gap down was reported on Nov, 4 by Barchart.com. If the $13.57 price target is reached, the company will be worth $16.67 million 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 10,770 shares traded hands. iSHARES SP TSX SMALLCAP INDEX ETF (TSE:XCS) has risen 17.68% since March 31, 2016 and is uptrending. It has outperformed by 16.59% the S&P500.

More notable recent iSHARES SP TSX SMALLCAP INDEX ETF (TSE:XCS) news were published by: Theglobeandmail.com which released: “Five ETFs to capture the ‘small-cap effect'” on December 19, 2014, also Marketwired.com with their article: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” published on September 07, 2016, Marketwired.com published: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” on June 08, 2016. More interesting news about iSHARES SP TSX SMALLCAP INDEX ETF (TSE:XCS) were released by: Theglobeandmail.com and their article: “The Globe and Mail” published on November 26, 2009 as well as Marketwired.com‘s news article titled: “BlackRock® Canada Announces March Cash Distributions for the iShares® ETFs” with publication date: March 09, 2016.

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