HSBC ETFS PLC HSBC MSCI TURKEY UCITS ETF Draws Bearish Focus After Its Gap Down Today

 HSBC ETFS PLC HSBC MSCI TURKEY UCITS ETF Draws Bearish Focus After Its Gap Down Today

The stock of HSBC ETFS PLC HSBC MSCI TURKEY UCITS ETF (LON:HTRY) gapped down by GBX 4.326 today and has GBX 225.49 target or 14.00% below today’s GBX 262.20 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 225.49 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 0.98% or GBX 2.6 on November 10, hitting GBX 262.2. About 23,000 shares traded hands or 757.57% up from the average. HSBC ETFS PLC HSBC MSCI TURKEY UCITS ETF (LON:HTRY) has declined 10.98% since April 4, 2016 and is downtrending. It has underperformed by 16.63% the S&P500.

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