The stock of ETFS COMMODITY SECURITIES LIMITED ETFS AGRICULTURE (LON:AGAP) gapped up by GBX 7.572 today and has GBX 1275.32 target or 185.00% above today’s GBX 447.48 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 1275.32 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 decreased 0.03% or GBX 0.12 on November 8, hitting GBX 447.48. ETFS COMMODITY SECURITIES LIMITED ETFS AGRICULTURE (LON:AGAP) has risen 16.12% since February 17, 2016 and is uptrending. It has outperformed by 14.16% the S&P500.
More recent ETFS COMMODITY SECURITIES LIMITED ETFS AGRICULTURE (LON:AGAP) news were published by: Ft.com which released: “Biggest crop ETF on track for best year since 2009” on June 23, 2016. Also Forbes.com published the news titled: “Tax Treatment Can Be Tricky With Options and ETFs” on March 02, 2016. Nasdaq.com‘s news article titled: “Broad Commodity ETFs Gain Traction in Q2: Will the Trend Continue?” with publication date: August 16, 2016 was also an interesting one.
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