CANADIAN CRUDE OIL INDEX ETF Can’t Burn Your Portfolio. Has Another Gap Up

 CANADIAN CRUDE OIL INDEX ETF Can't Burn Your Portfolio. Has Another Gap Up

The stock of CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) gapped up by $0.3 today and has $16.78 target or 133.00% above today’s $7.20 share price. The 8 months technical chart setup indicates low risk for the $13.78M company. The gap was reported on Nov, 15 by Barchart.com. If the $16.78 price target is reached, the company will be worth $18.33M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 12,200 shares traded hands. CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) has declined 7.76% since April 14, 2016 and is downtrending. It has underperformed by 11.69% the S&P500.

More important recent CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) news were published by: Theglobeandmail.com which released: “New ETF to track Canadian crude oil pricing” on May 10, 2015, also Prnewswire.com published article titled: “USCF Announces Collaboration On Canadian Crude Oil ETF With Auspice Capital …”, Business.Financialpost.com published: “Shedding light on domestic oil prices: New ETF will track Western Canadian …” on May 04, 2015. More interesting news about CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) was released by: Business.Financialpost.com and their article: “Take two: Is investing in commodities worth the effort and hand-wringing?” with publication date: April 18, 2016.

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