ISHARES SILVER BULLION ETF HDG Draws Bearish Focus After Its Gap Down Today

 ISHARES SILVER BULLION ETF HDG Draws Bearish Focus After Its Gap Down Today

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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