The stock of PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) gapped down by $0.13 today and has $17.87 target or 10.00% below today’s $19.85 share price. The 8 months technical chart setup indicates high risk for the $146.65M company. The gap down was reported on Nov, 11 by Barchart.com. If the $17.87 price target is reached, the company will be worth $14.67M 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 10,700 shares traded hands or 154.40% up from the average. PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) has risen 3.89% since April 7, 2016 and is uptrending. It has underperformed by 2.25% the S&P500.
More important recent PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) news were published by: Marketwatch.com which released: “Invesco announces cash distributions for Canadian-listed PowerShares ETFs” on September 20, 2016, also Barrons.com published article titled: “The Pros Pick 20 ETFs for Today’s Market”, Wsj.com published: “Bond ETFs That Use Fundamental Indexing Are Off to Slow Start” on September 04, 2013. More interesting news about PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) was released by: Etfdb.com and their article: “ETFs For The Forgotten Asset Classes” with publication date: December 07, 2010.
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