The stock of DB X-TRACKERS DBX MSCI PHILIPPINES ETF (LON:XPHG) gapped up by GBX 0.309 today and has GBX 325.01 target or 122.00% above today’s GBX 146.40 share price. The 7 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 18 by Barchart.com. If the GBX 325.01 price target is reached, the company will be worth GBX 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%. The ETF decreased 0.27% or GBX 0.4 on November 18, hitting GBX 146.4. About 36,614 shares traded hands. DB X-TRACKERS DBX MSCI PHILIPPINES ETF (LON:XPHG) has risen 1.73% since April 11, 2016 and is uptrending. It has underperformed by 2.70% the S&P500.
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