The stock of ISHARES US HY FIXED INCOME INDEX ETF (TSE:CHB) gapped down by $0.09 today and has $16.25 target or 12.00% below today’s $18.47 share price. The 6 months technical chart setup indicates high risk for the $167.76M company. The gap down was reported on Nov, 11 by Barchart.com. If the $16.25 price target is reached, the company will be worth $20.13M 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%. About 23,751 shares traded hands or 170.67% up from the average. ISHARES US HY FIXED INCOME INDEX ETF (TSE:CHB) has risen 4.48% since April 7, 2016 and is uptrending. It has underperformed by 1.66% the S&P500.
More notable recent ISHARES US HY FIXED INCOME INDEX ETF (TSE:CHB) news were published by: Marketwired.com which released: “BlackRock® Canada Announces August Cash Distributions for the iShares® ETFs” on August 15, 2016, also Marketwired.com with their article: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” published on September 07, 2016, Marketwired.com published: “BlackRock(R) Canada Announces July Cash Distributions for the iShares(R) ETFs” on April 20, 2016. More interesting news about ISHARES US HY FIXED INCOME INDEX ETF (TSE:CHB) were released by: Marketwired.com and their article: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” published on June 08, 2016 as well as Marketwired.com‘s news article titled: “BlackRock® Canada Announces April Cash Distributions for the iShares® ETFs” with publication date: April 13, 2016.
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