Could HSBC ETFS PLC HSBC MSCI MEXICO CAPPED UCITS ETF See a Reversal After Having a Gap Up Today?

 Could HSBC ETFS PLC HSBC MSCI MEXICO CAPPED UCITS ETF See a Reversal After Having a Gap Up Today?

The stock of HSBC ETFS PLC HSBC MSCI MEXICO CAPPED UCITS ETF (LON:HMEX) gapped up by GBX 85 today and has GBX 8090.56 target or 162.00% above today’s GBX 3088.00 share price. The 8 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 8 by Barchart.com. If the GBX 8090.56 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 1.13% or GBX 34.5 on November 8, hitting GBX 3088. About 10,656 shares traded hands or 272.46% up from the average. HSBC ETFS PLC HSBC MSCI MEXICO CAPPED UCITS ETF (LON:HMEX) has risen 10.61% since March 30, 2016 and is uptrending. It has outperformed by 8.66% the S&P500.

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