The stock of iSHARES CHINA INDEX ETF (TSE:XCH) gapped down by $0.08 today and has $20.90 target or 12.00% below today’s $23.75 share price. The 5 months technical chart setup indicates high risk for the $31.52 million company. The gap down was reported on Nov, 9 by Barchart.com. If the $20.90 price target is reached, the company will be worth $3.78M 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%. About 22,677 shares traded hands or 660.72% up from the average. iSHARES CHINA INDEX ETF (TSE:XCH) has risen 17.95% since April 5, 2016 and is uptrending. It has outperformed by 13.17% the S&P500.
Another recent and important iSHARES CHINA INDEX ETF (TSE:XCH) news was published by Etfdailynews.com which published an article titled: “China’s Improving Economic Data Signals Big Growth Ahead” on November 07, 2016.
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