The stock of POWERSHARES GLBAL FUNDS IRELAND PLC POWERSHARES FTSE RAFI US 1000 UCITS ETF (LON:PSRF) gapped up by GBX 15.68 today and has GBX 3535.84 target or 187.00% above today’s GBX 1232.00 share price. The 9 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 8 by Barchart.com. If the GBX 3535.84 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 0.43% or GBX 5.25 on November 8, hitting GBX 1232. About 25,523 shares traded hands. POWERSHARES GLBAL FUNDS IRELAND PLC POWERSHARES FTSE RAFI US 1000 UCITS ETF (LON:PSRF) has risen 20.51% since March 30, 2016 and is uptrending. It has outperformed by 18.55% the S&P500.
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