The stock of ISHARES II PLC ISHARES EM INFRASTRUCTURE UCITS ETF (LON:IEMI) gapped down by GBX 32.1 today and has GBX 1394.82 target or 13.00% below today’s GBX 1603.24 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 1394.82 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 5.30% or GBX 89.76 on November 10, hitting GBX 1603.24. About 896 shares traded hands. ISHARES II PLC ISHARES EM INFRASTRUCTURE UCITS ETF (LON:IEMI) has risen 15.56% since April 4, 2016 and is uptrending. It has outperformed by 9.91% the S&P500.
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