The stock of Claymore Canadian Financial Monthly Income ETF (TSE:FIE) gapped down by $0.01 today and has $6.03 target or 10.00% below today’s $6.70 share price. The 8 months technical chart setup indicates high risk for the $363.81M company. The gap down was reported on Nov, 4 by Barchart.com. If the $6.03 price target is reached, the company will be worth $36.38M 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%. The ETF last traded at $6.7 per share. It is down 3.40% since March 31, 2016 and is uptrending. It has outperformed by 2.30% the S&P500.
More notable recent Claymore Canadian Financial Monthly Income ETF (TSE:FIE) news were published by: Business.Financialpost.com which released: “Gordon Pape: â€œno fanâ€ of indexing or couch potato portfolios” on January 04, 2012, also Theglobeandmail.com with their article: “Top ETF picks for your RRSP” published on February 16, 2011, Fool.ca published: “Fool Canada” on February 02, 2005. More interesting news about Claymore Canadian Financial Monthly Income ETF (TSE:FIE) were released by: Theglobeandmail.com and their article: “How to find funds that deliver steady income” published on March 24, 2010 as well as Theglobeandmail.com‘s news article titled: “ETFs pay dividends without single-stock risk” with publication date: October 14, 2009.
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