Some Traders Are Very Bearish on PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF After Today’s Gap Down

 Some Traders Are Very Bearish on PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF After Today's Gap Down

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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