The stock of Betashares Gold Bullion (ASX:QAU) gapped down by $0.04 today and has $11.75 target or 13.00% below today’s $13.50 share price. The 8 months technical chart setup indicates high risk for the $ company. The gap down was reported on Nov, 8 by Barchart.com. If the $11.75 price target is reached, the company will be worth $ 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%. The stock decreased 0.52% or $0.07 on November 8, hitting $13.5. About 24,202 shares traded hands. Betashares Gold Bullion (ASX:QAU) has risen 4.95% since March 31, 2016 and is uptrending. It has outperformed by 2.99% the S&P500.
More recent Betashares Gold Bullion (ASX:QAU) news were published by: Fool.com.Au which released: “3 stocks at 52-week lows â€“ can they turn it around?” on July 24, 2015. Also Smh.com.Au published the news titled: “The goldrums could be a good time to buy big” on August 21, 2015. Smh.com.Au‘s news article titled: “Who’s to blame for great gold collapse?” with publication date: April 19, 2013 was also an interesting one.
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