The stock of HSBC ETFS PLC HSBC MSCI EMERGING MARKETS UCITS ETF (LON:HMEF) gapped down by GBX 12.5 today and has GBX 617.40 target or 10.00% below today’s GBX 686.00 share price. The 5 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 617.40 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 3.79% or GBX 27 on November 10, hitting GBX 686. About 57,387 shares traded hands or 39.42% up from the average. HSBC ETFS PLC HSBC MSCI EMERGING MARKETS UCITS ETF (LON:HMEF) has risen 25.40% since March 31, 2016 and is uptrending. It has outperformed by 19.76% the S&P500.
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