The stock of SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE NASDAQ BIOTECH UCITS ETF (LON:SBIO) gapped down by GBX 0.065 today and has GBX 26.69 target or 12.00% below today’s GBX 30.33 share price. The 8 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 26.69 price target is reached, the company will be worth GBX 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%. The ETF decreased 1.03% or GBX 0.32 on November 18, hitting GBX 30.33. About 64,100 shares traded hands. SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE NASDAQ BIOTECH UCITS ETF (LON:SBIO) has risen 4.97% since April 12, 2016 and is uptrending. It has outperformed by 0.54% the S&P500.
More news for SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE NASDAQ BIOTECH UCITS ETF (LON:SBIO) were recently published by: Ft.com, which released: “VW car crash hasn’t put me off European equities” on October 08, 2015. Prnewswire.com‘s article titled: “Calamos Dynamic Convertible and Income Fund (NASDAQ: CCD) Announces Close of …” and published on May 13, 2015 is yet another important article.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.