The stock of Claymore 1-10 Yr Laddered Corporate Bond ETF (TSE:CBH) gapped down by $0.1 today and has $16.95 target or 13.00% below today’s $19.48 share price. The 7 months technical chart setup indicates high risk for the $213.53M 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 $27.76 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 16,588 shares traded hands or 60.57% up from the average. Claymore 1-10 Yr Laddered Corporate Bond ETF (TSE:CBH) has declined 0.20% since April 8, 2016 and is downtrending. It has underperformed by 5.19% the S&P500.
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