Traders Are Bearish FIRST TRUST GLOBAL FUNDS PUBLIC LIMITED COMPANY FIRSTTRUST GLOBALEQUITY INCOME UCITS ETF After Today’s Gap Down

 Traders Are Bearish FIRST TRUST GLOBAL FUNDS PUBLIC LIMITED COMPANY FIRSTTRUST GLOBALEQUITY INCOME UCITS ETF After Today's Gap Down

The stock of FIRST TRUST GLOBAL FUNDS PUBLIC LIMITED COMPANY FIRSTTRUST GLOBALEQUITY INCOME UCITS ETF (LON:GINC) gapped down by GBX 19.5 today and has GBX 2780.52 target or 13.00% below today’s GBX 3196.00 share price. The 9 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 2780.52 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 increased 0.27% or GBX 8.5 on November 10, hitting GBX 3196. About 6,000 shares traded hands or 7692.21% up from the average. FIRST TRUST GLOBAL FUNDS PUBLIC LIMITED COMPANY FIRSTTRUST GLOBALEQUITY INCOME UCITS ETF (LON:GINC) has risen 6.00% since October 11, 2016 and is uptrending. It has outperformed by 0.35% the S&P500.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment