iSHARES CANADIAN GOVT BOND INDEX ETF Gaps Down Today, Is Now One of The Worst Performers

 iSHARES CANADIAN GOVT BOND INDEX ETF Gaps Down Today, Is Now One of The Worst Performers

The stock of iSHARES CANADIAN GOVT BOND INDEX ETF (TSE:XGB) gapped down by $0.14 today and has $19.49 target or 11.00% below today’s $21.90 share price. The 5 months technical chart setup indicates high risk for the $393.20M company. The gap down was reported on Nov, 14 by Barchart.com. If the $19.49 price target is reached, the company will be worth $43.25 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 177,901 shares traded hands or 797.13% up from the average. iSHARES CANADIAN GOVT BOND INDEX ETF (TSE:XGB) has declined 0.76% since April 8, 2016 and is downtrending. It has underperformed by 5.75% the S&P500.

More notable recent iSHARES CANADIAN GOVT BOND INDEX ETF (TSE:XGB) news were published by: Marketwired.com which released: “BlackRock® Canada Announces August Cash Distributions for the iShares® ETFs” on August 15, 2016, also Marketwired.com with their article: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” published on September 07, 2016, Marketwired.com published: “BlackRock® Canada Announces April Cash Distributions for the iShares® ETFs” on April 13, 2016. More interesting news about iSHARES CANADIAN GOVT BOND INDEX ETF (TSE:XGB) were released by: Marketwired.com and their article: “BlackRock(R) Canada Announces July Cash Distributions for the iShares(R) ETFs” published on April 20, 2016 as well as Marketwired.com‘s news article titled: “BlackRock(R) Canada Announces October Cash Distributions for the iShares(R) ETFs” with publication date: October 13, 2016.

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