ISHARES VII PLC ISHARES MSCI MEXICO CAPPED UCITS ETF Has Another Very Weak Trading Session Recording a Gap Down

 ISHARES VII PLC ISHARES MSCI MEXICO CAPPED UCITS ETF Has Another Very Weak Trading Session Recording a Gap Down

The stock of ISHARES VII PLC ISHARES MSCI MEXICO CAPPED UCITS ETF (LON:CMX1) gapped down by GBX 609 today and has GBX 7671.66 target or 13.00% below today’s GBX 8818.00 share price. The 5 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 9 by Barchart.com. If the GBX 7671.66 price target is reached, the company will be worth GBX 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%. The ETF decreased 7.72% or GBX 737.5 on November 9, hitting GBX 8818. About 11,410 shares traded hands or 897.38% up from the average. ISHARES VII PLC ISHARES MSCI MEXICO CAPPED UCITS ETF (LON:CMX1) has declined 4.90% since March 18, 2016 and is downtrending. It has underperformed by 9.68% the S&P500.

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