The stock of XTF Morningstar Canada Momentum Index ETF (TSE:WXM) gapped up by $0.03 today and has $23.24 target or 57.00% above today’s $14.80 share price. The 8 months technical chart setup indicates low risk for the $141.44 million company. The gap was reported on Nov, 17 by Barchart.com. If the $23.24 price target is reached, the company will be worth $80.62 million 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 12,881 shares traded hands or 68.75% up from the average. XTF Morningstar Canada Momentum Index ETF (TSE:WXM) has risen 5.91% since April 13, 2016 and is uptrending. It has outperformed by 1.28% the S&P500.
More notable recent XTF Morningstar Canada Momentum Index ETF (TSE:WXM) news were published by: Theglobeandmail.com which released: “ETFs based on Morningstar Canada indexes on the way” on January 31, 2012, also Barrons.com with their article: “The Pros Pick 20 ETFs for Today’s Market” published on May 07, 2016, Wsj.com published: “Should You Fear the ETF?” on December 07, 2015. More interesting news about XTF Morningstar Canada Momentum Index ETF (TSE:WXM) were released by: Wsj.com and their article: “Watch an Index Fund’s ‘Tracking Error'” published on July 08, 2012 as well as Wsj.com‘s news article titled: “ETFs Climb Toward $2 Trillion Mark” with publication date: November 03, 2014.
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