The stock of iSHARES MSCI EMERGING MARKETS IDX ETF (TSE:XEM) gapped down by $0.32 today and has $22.63 target or 14.00% below today’s $26.31 share price. The 6 months technical chart setup indicates high risk for the $197.58 million company. The gap down was reported on Nov, 11 by Barchart.com. If the $22.63 price target is reached, the company will be worth $27.66M 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 22,594 shares traded hands or 17.21% up from the average. iSHARES MSCI EMERGING MARKETS IDX ETF (TSE:XEM) has risen 10.29% since April 7, 2016 and is uptrending. It has outperformed by 4.14% the S&P500.
More notable recent iSHARES MSCI EMERGING MARKETS IDX ETF (TSE:XEM) news were published by: Etfdailynews.com which released: “Emerging Markets ETFs Bracing for Larger Pullback?” on October 12, 2016, also Etfdailynews.com with their article: “Emerging Markets are Still a “Buy,” According to Zacks” published on September 01, 2016, Etfdailynews.com published: “BlackRock: Fed’s Inaction is Bullish for Emerging Markets” on August 16, 2016. More interesting news about iSHARES MSCI EMERGING MARKETS IDX ETF (TSE:XEM) were released by: Etfdailynews.com and their article: “Is This Emerging Markets Rally for Real?” published on August 10, 2016 as well as Nasdaq.com‘s news article titled: “iShares MSCI Emerging Markets (EEM) Enters Oversold Territory” with publication date: November 11, 2016.
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