Time to Buy Claymore Canadian Financial Monthly Income ETF After Today’s Gap Up?

 Time to Buy Claymore Canadian Financial Monthly Income ETF After Today's Gap Up?

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: “no fan” 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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