The stock of Templeton Emerging Markets Inv Trust plc (LON:TEM) gapped down by GBX 7.54 today and has GBX 541.91 target or 6.00% below today’s GBX 576.50 share price. The 6 months technical chart setup indicates high risk for the GBX 1.66B company. The gap down was reported on Nov, 10 by Barchart.com. If the GBX 541.91 price target is reached, the company will be worth GBX 99.60M 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 stock decreased 2.29% or GBX 13.5 on November 10, hitting GBX 576.5. About 707,141 shares traded hands or 71.87% up from the average. Templeton Emerging Markets Inv Trust plc (LON:TEM) has risen 39.93% since March 24, 2016 and is uptrending. It has outperformed by 34.28% the S&P500.
More news for Templeton Emerging Markets Inv Trust plc (LON:TEM) were recently published by: Wsj.com, which released: “Saudi Regulator Makes New Moves to Lure Foreign Investors” on May 03, 2016. Bloomberg.com‘s article titled: “Malaysia Central Bank Head Confident of Government Debt Promise” and published on May 11, 2016 is yet another important article.
Templeton Emerging Markets Investment Trust PLC is a United Kingdom investment company. The company has a market cap of 1.66 billion GBP. The objective of the Company is to provide long-term capital appreciation for its shareholders through investment in companies operating in emerging markets or whose stocks are listed on the stock markets of such countries. It currently has negative earnings. This includes companies, which have a significant amount of their revenues in emerging markets but are listed on stock exchanges in developed countries.
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