The stock of ISHARES SP TSX CDN DIVIDEND IDX ETF (TSE:CDZ) gapped up by $0.03 today and has $30.57 target or 24.00% above today’s $24.65 share price. The 7 months technical chart setup indicates low risk for the $916.11 million company. The gap was reported on Nov, 7 by Barchart.com. If the $30.57 price target is reached, the company will be worth $219.87M 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 38,064 shares traded hands or 102.98% up from the average. ISHARES SP TSX CDN DIVIDEND IDX ETF (TSE:CDZ) has risen 2.36% since April 1, 2016 and is uptrending. It has outperformed by 0.40% the S&P500.
More notable recent ISHARES SP TSX CDN DIVIDEND IDX ETF (TSE:CDZ) news were published by: Theglobeandmail.com which released: “Five things your dividend ETF isn’t telling you” on July 08, 2014, also Theglobeandmail.com with their article: “Dividend ETFs have their appeal, but don’t dismiss mutual fund rivals” published on November 22, 2014, Marketwired.com published: “BlackRock® Canada Announces August Cash Distributions for the iShares® ETFs” on August 15, 2016. More interesting news about ISHARES SP TSX CDN DIVIDEND IDX ETF (TSE:CDZ) were released by: Business.Financialpost.com and their article: “Jonathan Chevreau: Why dividend funds are a smart financial move” published on July 14, 2015 as well as Marketwired.com‘s news article titled: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” with publication date: September 07, 2016.
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