A Reversal for Genesis Emerging Markets Fund Limited Is Not Near. The Stock Gaps Down

 A Reversal for Genesis Emerging Markets Fund Limited Is Not Near. The Stock Gaps Down

The stock of Genesis Emerging Markets Fund Limited (LON:GSS) gapped down by GBX 7 today and has GBX 559.08 target or 5.00% below today’s GBX 588.50 share price. The 8 months technical chart setup indicates high risk for the GBX 795.06M company. The gap down was reported on Nov, 10 by Barchart.com. If the GBX 559.08 price target is reached, the company will be worth GBX 39.75 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%. The stock decreased 1.67% or GBX 10 on November 10, hitting GBX 588.5. About 225,987 shares traded hands or 177.22% up from the average. Genesis Emerging Markets Fund Limited (LON:GSS) has risen 22.52% since April 4, 2016 and is uptrending. It has outperformed by 16.87% the S&P500.

Genesis Emerging Markets Fund Limited is a Guernsey closed-ended investment fund. The company has a market cap of 795.06 million GBP. The investment objective of the Fund is to achieve capital growth over the medium to long term, primarily through investment in equity securities quoted on emerging markets. It currently has negative earnings. The Fund invests in various sectors, including financials, consumer staples, information technology, materials, healthcare, consumer discretionary, energy, telecommunications, industrials, investment companies and utilities.

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