The stock of iSHARES US HIGH YIELD BOND INDEX ETF (TSE:XHY) gapped down by $0.05 today and has $17.67 target or 9.00% below today’s $19.42 share price. The 7 months technical chart setup indicates high risk for the $579.87M company. The gap down was reported on Nov, 10 by Barchart.com. If the $17.67 price target is reached, the company will be worth $52.19M 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%. About 44,758 shares traded hands or 44.18% up from the average. iSHARES US HIGH YIELD BOND INDEX ETF (TSE:XHY) has risen 5.13% since April 6, 2016 and is uptrending. It has underperformed by 0.52% the S&P500.
More notable recent iSHARES US HIGH YIELD BOND INDEX ETF (TSE:XHY) news were published by: Marketwired.com which released: “BlackRock® Canada Announces August Cash Distributions for the iShares® ETFs” on August 15, 2016, also Marketwired.com with their article: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” published on September 07, 2016, Seekingalpha.com published: “Daily State Of The Markets: Sometimes The Game Is Just Plain Hard” on November 08, 2016. More interesting news about iSHARES US HIGH YIELD BOND INDEX ETF (TSE:XHY) were released by: Marketwired.com and their article: “BlackRock(R) Canada Announces May Cash Distributions for the iShares(R) ETFs” published on May 12, 2016 as well as Marketwired.com‘s news article titled: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” with publication date: June 08, 2016.
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