The stock of ISHARES PLC ISHARES FTSEUROFIRST 80 UCITS ETF (LON:IEUR) gapped down by GBX 4.375 today and has GBX 808.65 target or 10.00% below today’s GBX 898.50 share price. The 7 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 808.65 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 0.43% or GBX 3.88 on November 10, hitting GBX 898.5. About 1,045 shares traded hands. ISHARES PLC ISHARES FTSEUROFIRST 80 UCITS ETF (LON:IEUR) has risen 13.75% since March 31, 2016 and is uptrending. It has outperformed by 8.10% the S&P500.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.