The stock of HSBC ETFS PLC HSBC MSCI CHINA UCITS ETF $ (LON:HMCH) gapped down by GBX 4.75 today and has GBX 415.04 target or 14.00% below today’s GBX 482.60 share price. The 6 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 415.04 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 2.27% or GBX 11.2 on November 10, hitting GBX 482.6. About 114,840 shares traded hands or 316.42% up from the average. HSBC ETFS PLC HSBC MSCI CHINA UCITS ETF $ (LON:HMCH) has risen 25.66% since April 4, 2016 and is uptrending. It has outperformed by 20.02% the S&P500.
Another recent and important HSBC ETFS PLC HSBC MSCI CHINA UCITS ETF $ (LON:HMCH) news was published by Seekingalpha.com which published an article titled: “Week Ahead: Deutsche Bank And Europe To Drive Markets” on October 10, 2016.
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