The stock of SSGA SPDR ETFS EUROPE II PLC SPDR RUSSELL 2000 US SMALL CAP ETF (LON:R2US) gapped up by GBX 0.05 today and has GBX 71.85 target or 105.00% above today’s GBX 35.05 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 71.85 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 increased 0.16% or GBX 0.06 on November 18, hitting GBX 35.05. About 16,480 shares traded hands. SSGA SPDR ETFS EUROPE II PLC SPDR RUSSELL 2000 US SMALL CAP ETF (LON:R2US) has risen 36.37% since April 12, 2016 and is uptrending. It has outperformed by 31.94% the S&P500.
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