ISHARES GOLD BULLION ETF HDG Can’t Be More Risky. Trader Significantly Lower After A Gap Down

 ISHARES GOLD BULLION ETF HDG Can't Be More Risky. Trader Significantly Lower After A Gap Down

The stock of ISHARES GOLD BULLION ETF HDG (TSE:CGL) gapped down by $0.11 today and has $9.87 target or 12.00% below today’s $11.22 share price. The 5 months technical chart setup indicates high risk for the $349.84M company. The gap down was reported on Nov, 7 by Barchart.com. If the $9.87 price target is reached, the company will be worth $41.98M 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 37,313 shares traded hands. ISHARES GOLD BULLION ETF HDG (TSE:CGL) has risen 6.30% since April 1, 2016 and is uptrending. It has outperformed by 4.35% the S&P500.

More recent ISHARES GOLD BULLION ETF HDG (TSE:CGL) news were published by: Theglobeandmail.com which released: “The Globe and Mail” on July 11, 2010. Also Zacks.com published the news titled: “Gold ETF Investing: 10 Facts Investors Need to Know” on June 09, 2016. Fool.ca‘s news article titled: “3 Reasons Why I Am Bullish on Silver” with publication date: August 18, 2014 was also an interesting one.

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