The stock of Claymore Canadian Financial Monthly Income ETF (TSE:FIE) gapped up by $0.02 today and has $10.75 target or 59.00% above today’s $6.76 share price. The 7 months technical chart setup indicates low risk for the $361.64M company. The gap was reported on Nov, 7 by Barchart.com. If the $10.75 price target is reached, the company will be worth $213.37 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 98,280 shares traded hands or 10.37% up from the average. Claymore Canadian Financial Monthly Income ETF (TSE:FIE) has risen 2.46% since April 1, 2016 and is uptrending. It has outperformed by 0.51% the S&P500.
More notable recent Claymore Canadian Financial Monthly Income ETF (TSE:FIE) news were published by: Theglobeandmail.com which released: “Stop-loss orders turn into double-edged sword” on May 07, 2010, also Business.Financialpost.com with their article: “Gordon Pape: â€œno fanâ€ of indexing or couch potato portfolios” published on January 04, 2012, Theglobeandmail.com published: “Top ETF picks for your RRSP” on February 16, 2011. 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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