The stock of Market Vectors Australian Property ETF (ASX:MVA) gapped down by $0.27 today and has $16.23 target or 13.00% below today’s $18.65 share price. The 7 months technical chart setup indicates high risk for the $ company. The gap down was reported on Nov, 10 by Barchart.com. If the $16.23 price target is reached, the company will be worth $ 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 2.25% or $0.43 on November 10, hitting $18.65. About 27,888 shares traded hands or 504.03% up from the average. Market Vectors Australian Property ETF (ASX:MVA) has declined 1.90% since April 4, 2016 and is downtrending. It has underperformed by 7.55% the S&P500.
More recent Market Vectors Australian Property ETF (ASX:MVA) news were published by: Forbes.com which released: “Why 2016 Should Be An Awesome Year To Invest In REITs” on December 18, 2015. Also Foxbusiness.com published the news titled: “Real Estate ETFs Rejoice Amid Low Rates” on May 09, 2016. Smh.com.Au‘s news article titled: “Market chaos means investors need ‘active with passive'” with publication date: March 03, 2016 was also an interesting one.
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