Today CANADIAN CRUDE OIL INDEX ETF Stock Crashes. What To Expect?

 Today CANADIAN CRUDE OIL INDEX ETF Stock Crashes. What To Expect?

The stock of CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) gapped down by $0.07 today and has $5.92 target or 13.00% below today’s $6.80 share price. The 6 months technical chart setup indicates high risk for the $14.18 million company. The gap down was reported on Nov, 11 by Barchart.com. If the $5.92 price target is reached, the company will be worth $1.84 million 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 79,127 shares traded hands or 572.68% up from the average. CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) has declined 7.92% since April 12, 2016 and is downtrending. It has underperformed by 14.07% the S&P500.

More important recent CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) news were published by: Theglobeandmail.com which released: “New ETF to track Canadian crude oil pricing” on May 10, 2015, also Prnewswire.com published article titled: “USCF Announces Collaboration On Canadian Crude Oil ETF With Auspice Capital …”, Business.Financialpost.com published: “Shedding light on domestic oil prices: New ETF will track Western Canadian …” on May 04, 2015. More interesting news about CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) was released by: Business.Financialpost.com and their article: “Take two: Is investing in commodities worth the effort and hand-wringing?” with publication date: April 18, 2016.

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