Traders Are Bearish DB X-TRACKERS DBX MSCI INDONESIA ETF After Today’s Gap Down

 Traders Are Bearish DB X TRACKERS DBX MSCI INDONESIA ETF After Today's Gap Down

The stock of DB X-TRACKERS DBX MSCI INDONESIA ETF (LON:XMID) gapped down by GBX 15.5 today and has GBX 977.40 target or 10.00% below today’s GBX 1086.00 share price. The 8 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 10 by Barchart.com. If the GBX 977.40 price target is reached, the company will be worth GBX 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 4.86% or GBX 55.5 on November 10, hitting GBX 1086. About 354,412 shares traded hands or 11440.61% up from the average. DB X-TRACKERS DBX MSCI INDONESIA ETF (LON:XMID) has risen 9.18% since April 4, 2016 and is uptrending. It has outperformed by 3.53% the S&P500.

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