The stock of ISHARES SILVER BULLION ETF HDG (TSE:SVR) gapped down by $0.12 today and has $8.40 target or 11.00% below today’s $9.44 share price. The 8 months technical chart setup indicates high risk for the $46.17 million company. The gap down was reported on Nov, 14 by Barchart.com. If the $8.40 price target is reached, the company will be worth $5.08 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 26,662 shares traded hands or 68.74% up from the average. ISHARES SILVER BULLION ETF HDG (TSE:SVR) has risen 11.21% since April 8, 2016 and is uptrending. It has outperformed by 6.23% the S&P500.
More news for ISHARES SILVER BULLION ETF HDG (TSE:SVR) were recently published by: Theglobeandmail.com, which released: “The Globe and Mail” on July 11, 2010. Fool.ca‘s article titled: “3 Reasons Why I Am Bullish on Silver” and published on August 18, 2014 is yet another important article.
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