The stock of Claymore Canadian Fundamental Index ETF (TSE:CRQ) gapped down by $0.04 today and has $12.67 target or 12.00% below today’s $14.40 share price. The 7 months technical chart setup indicates high risk for the $182.38 million company. The gap down was reported on Nov, 11 by Barchart.com. If the $12.67 price target is reached, the company will be worth $21.89 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 19,956 shares traded hands or 69.97% up from the average. Claymore Canadian Fundamental Index ETF (TSE:CRQ) has risen 18.14% since April 7, 2016 and is uptrending. It has outperformed by 11.99% the S&P500.
More notable recent Claymore Canadian Fundamental Index ETF (TSE:CRQ) news were published by: Theglobeandmail.com which released: “Is it worth making the shift to fundamental indexes?” on April 22, 2013, also Business.Financialpost.com with their article: “Fundamental ETFs worth a look” published on February 16, 2011, Theglobeandmail.com published: “Trick question: What performs better than an index fund?” on June 12, 2014. More interesting news about Claymore Canadian Fundamental Index ETF (TSE:CRQ) were released by: Business.Financialpost.com and their article: “BlackRock dominates in Canadian ETFs” published on January 16, 2012 as well as Business.Financialpost.com‘s news article titled: “What’s in your ETF?” with publication date: November 11, 2011.
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