The stock of Claymore Canadian Financial Monthly Income ETF (TSE:FIE) gapped up by $0.01 today and has $11.04 target or 61.00% above today’s $6.86 share price. The 8 months technical chart setup indicates low risk for the $368.15 million company. The gap was reported on Nov, 10 by Barchart.com. If the $11.04 price target is reached, the company will be worth $224.57 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 102,621 shares traded hands or 2.19% up from the average. Claymore Canadian Financial Monthly Income ETF (TSE:FIE) has risen 4.95% since April 6, 2016 and is uptrending. It has underperformed by 0.70% the S&P500.
More important recent Claymore Canadian Financial Monthly Income ETF (TSE:FIE) news were published by: Theglobeandmail.com which released: “Stop-loss orders turn into double-edged sword” on May 07, 2010, also Business.Financialpost.com published article titled: “Gordon Pape: â€œno fanâ€ of indexing or couch potato portfolios”, Theglobeandmail.com published: “Top ETF picks for your RRSP” on February 16, 2011. More interesting news about Claymore Canadian Financial Monthly Income ETF (TSE:FIE) was released by: Theglobeandmail.com and their article: “How to find funds that deliver steady income” with publication date: March 24, 2010.
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