The stock of Claymore Canadian Financial Monthly Income ETF (TSE:FIE) gapped up by $0.02 today and has $19.07 target or 172.00% above today’s $7.01 share price. The 6 months technical chart setup indicates low risk for the $374.10 million company. The gap was reported on Nov, 21 by Barchart.com. If the $19.07 price target is reached, the company will be worth $643.45M 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 129,121 shares traded hands or 10.98% up from the average. Claymore Canadian Financial Monthly Income ETF (TSE:FIE) has risen 5.30% since April 15, 2016 and is uptrending. It has outperformed by 1.43% the S&P500.
More recent Claymore Canadian Financial Monthly Income ETF (TSE:FIE) news were published by: Business.Financialpost.com which released: “Gordon Pape: â€œno fanâ€ of indexing or couch potato portfolios” on January 04, 2012. Also Theglobeandmail.com published the news titled: “Top ETF picks for your RRSP” on February 16, 2011. Theglobeandmail.com‘s news article titled: “How to find funds that deliver steady income” with publication date: March 24, 2010 was also an interesting one.
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