The stock of FIRST ASSET INVESTMENT GRADE BOND ETF (TSE:FIG) gapped down by $0.09 today and has $9.59 target or 14.00% below today’s $11.15 share price. The 7 months technical chart setup indicates high risk for the $94.13M company. The gap down was reported on Nov, 7 by Barchart.com. If the $9.59 price target is reached, the company will be worth $13.18 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 23,100 shares traded hands or 62.47% up from the average. FIRST ASSET INVESTMENT GRADE BOND ETF (TSE:FIG) has risen 6.00% since October 8, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More recent FIRST ASSET INVESTMENT GRADE BOND ETF (TSE:FIG) news were published by: Blogs.Wsj.com which released: “A Pair of Record Withdrawals Just Hit Corporate Bond ETFs” on October 31, 2016. Also Etftrends.com published the news titled: “Nuveen Looks to Aggregate Bonds for First ETF Launch Today” on September 15, 2016. Seekingalpha.com‘s news article titled: “Stocks And Bonds: Which Asset Class Balloon Will Pop First?” with publication date: July 11, 2016 was also an interesting one.
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