The stock of DB X-TRACKERS DBX MSCI CHINA IDX UCITS ETF DR $ (LON:XCS6) gapped up by GBX 0.245 today and has GBX 23.51 target or 77.00% above today’s GBX 13.28 share price. The 6 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 8 by Barchart.com. If the GBX 23.51 price target is reached, the company will be worth GBX 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%. The ETF increased 0.30% or GBX 0.04 on November 8, hitting GBX 13.28. About 7,180 shares traded hands. DB X-TRACKERS DBX MSCI CHINA IDX UCITS ETF DR $ (LON:XCS6) has risen 11.56% since March 30, 2016 and is uptrending. It has outperformed by 9.60% the S&P500.