After Today’s Gap Down, Is Powershares Tactical Bond ETF’s Near-Term Analysis Negative?

 After Today's Gap Down, Is Powershares Tactical Bond ETF's Near Term Analysis Negative?

The stock of Powershares Tactical Bond ETF (TSE:PTB) gapped down by $0.05 today and has $17.25 target or 10.00% below today’s $19.17 share price. The 7 months technical chart setup indicates high risk for the $197.40M company. The gap down was reported on Nov, 14 by Barchart.com. If the $17.25 price target is reached, the company will be worth $19.74M 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 75,858 shares traded hands or 1021.83% up from the average. Powershares Tactical Bond ETF (TSE:PTB) has risen 0.21% since April 8, 2016 and is uptrending. It has underperformed by 4.78% the S&P500.

More notable recent Powershares Tactical Bond ETF (TSE:PTB) news were published by: Theglobeandmail.com which released: “What investors need to know about tactical bond ETFs” on July 03, 2015, also Marketwatch.com with their article: “Invesco announces cash distributions for Canadian-listed PowerShares ETFs” published on September 20, 2016, Business.Financialpost.com published: “Jonathan Chevreau: Why fund investors should get active with their ETFs” on September 08, 2015. More interesting news about Powershares Tactical Bond ETF (TSE:PTB) were released by: Benzinga.com and their article: “A New Muti-Asset ETF Of ETFs” published on March 11, 2016 as well as Nasdaq.com‘s news article titled: “A New ETF For Tactical Income Enthusiasts” with publication date: April 12, 2016.

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