The stock of DB X-TRACKERS DBX ISLAMIC MARKET TITANS 100 ETF (LON:XIMT) gapped up by GBX 42.5 today and has GBX 7859.74 target or 117.00% above today’s GBX 3622.00 share price. The 5 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 8 by Barchart.com. If the GBX 7859.74 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 0.44% or GBX 16 on November 8, hitting GBX 3622. About 716 shares traded hands or 0.56% up from the average. DB X-TRACKERS DBX ISLAMIC MARKET TITANS 100 ETF (LON:XIMT) has risen 18.99% since March 30, 2016 and is uptrending. It has outperformed by 17.03% the S&P500.
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