iSHARES US HIGH YIELD BOND INDEX ETF Gap Down Today Means Higher Risks Forward

 iSHARES US HIGH YIELD BOND INDEX ETF Gap Down Today Means Higher Risks Forward

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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