The stock of Powershares Ultra DLUX Long Term Government Bond Index ETF (TSE:PGL) gapped down by $0.35 today and has $20.43 target or 11.00% below today’s $22.96 share price. The 8 months technical chart setup indicates high risk for the $487.80M company. The gap down was reported on Nov, 14 by Barchart.com. If the $20.43 price target is reached, the company will be worth $53.66 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 30,930 shares traded hands or 1001.10% up from the average. Powershares Ultra DLUX Long Term Government Bond Index ETF (TSE:PGL) has declined 0.59% since April 8, 2016 and is downtrending. It has underperformed by 5.57% the S&P500.
More news for Powershares Ultra DLUX Long Term Government Bond Index ETF (TSE:PGL) were recently published by: Theglobeandmail.com, which released: “Beware the risk in bond funds” on July 10, 2013. Theglobeandmail.com‘s article titled: “Four tips for nervous bond investors” and published on June 14, 2013 is yet another important article.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.