It Seems Betashares Gold Bullion Will Go Down. Have Big Gap Down Today

 It Seems Betashares Gold Bullion Will Go Down. Have Big Gap Down Today

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 – 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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