Powershares Ultra DLUX Long Term Government Bond Index ETF Could Burn Your Portfolio. Has Another Gap Down

 Powershares Ultra DLUX Long Term Government Bond Index ETF Could Burn Your Portfolio. Has Another Gap Down

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.

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