The stock of DB X-TRACKERS DBX MSCI MEXICO IDX UCITS ETF (DR) (LON:XMEX) gapped down by GBX 22.637 today and has GBX 322.47 target or 10.00% below today’s GBX 358.30 share price. The 8 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 10 by Barchart.com. If the GBX 322.47 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 increased 0.17% or GBX 0.6 on November 10, hitting GBX 358.3. About 58,662 shares traded hands. DB X-TRACKERS DBX MSCI MEXICO IDX UCITS ETF (DR) (LON:XMEX) has risen 29.99% since April 4, 2016 and is uptrending. It has outperformed by 24.34% the S&P500.
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