Does Claymore Canadian Financial Monthly Income ETF Have Any Gas After Today’s Gap Up?

 Does Claymore Canadian Financial Monthly Income ETF Have Any Gas After Today's Gap Up?

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: “no fan” 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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