Claymore 1-10 Yr Laddered Government Bond ETF’s Trend Down, Especially After Today’s Gap Down

 Claymore 1 10 Yr Laddered Government Bond ETF's Trend Down, Especially After Today's Gap Down

The stock of Claymore 1-10 Yr Laddered Government Bond ETF (TSE:CLG) gapped down by $0.01 today and has $16.95 target or 12.00% below today’s $19.26 share price. The 9 months technical chart setup indicates high risk for the $181.80 million company. The gap down was reported on Nov, 14 by Barchart.com. If the $16.95 price target is reached, the company will be worth $21.82 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 63,026 shares traded hands or 292.76% up from the average. Claymore 1-10 Yr Laddered Government Bond ETF (TSE:CLG) has declined 1.33% since April 8, 2016 and is downtrending. It has underperformed by 6.31% the S&P500.

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