The stock of iShares DEX Universe Bond Index Fund (TSE:XBB) gapped down by $0.06 today and has $30.22 target or 5.00% below today’s $31.81 share price. The 5 months technical chart setup indicates high risk for the $2.21B company. The gap down was reported on Nov, 9 by Barchart.com. If the $30.22 price target is reached, the company will be worth $110.50 million 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 16,491 shares traded hands. iShares DEX Universe Bond Index Fund (TSE:XBB) has risen 0.06% since April 5, 2016 and is uptrending. It has underperformed by 4.72% the S&P500.
More recent iShares DEX Universe Bond Index Fund (TSE:XBB) news were published by: Theglobeandmail.com which released: “Beware the risk in bond funds” on July 10, 2013. Also Fool.ca published the news titled: “Nervous About Stocks? Hide Out in These Safe-Haven Assets” on November 03, 2016. Theglobeandmail.com‘s news article titled: “How RBC funds compare against index funds, ETFs” with publication date: January 29, 2014 was also an interesting one.
iShares DEX Universe Bond Index Fund seeks to provide income by replicating, to the extent possible, the performance of the DEX Universe Bond Index, net of expenses. The company has a market cap of $2.21 billion. The DEX Bond Index consists of a diversified selection of investment-grade Government of Canada, provincial, corporate and municipal bonds issued domestically in Canada and denominated in Canadian dollars. It currently has negative earnings. There are four credit or borrower categories: bonds issued bt Government of Canada , Provincial Bonds (including provincially guaranteed securities), Municipal Bonds, and Corporate Bonds.
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