After Today’s Gap Down, Is BETA BEAR ETF UNITS’s Near-Term Analysis Negative?

 After Today's Gap Down, Is BETA BEAR ETF UNITS's Near Term Analysis Negative?

The stock of BETA BEAR ETF UNITS (ASX:BEAR) gapped down by $0.12 today and has $14.96 target or 7.00% below today’s $16.09 share price. The 6 months technical chart setup indicates high risk for the $ company. The gap down was reported on Nov, 22 by Barchart.com. If the $14.96 price target is reached, the company will be worth $ 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 1.17% or $0.19 on November 22, hitting $16.09. About 16,803 shares traded hands. BETA BEAR ETF UNITS (ASX:BEAR) has declined 9.81% since April 13, 2016 and is downtrending. It has underperformed by 14.36% the S&P500.

More notable recent BETA BEAR ETF UNITS (ASX:BEAR) news were published by: Theglobeandmail.com which released: “Six ETFs to capture gold’s seasonal strength” on July 11, 2014, also Marketwatch.com with their article: “PowerShares Canada announces estimated 2016 annual distributions for Canadian …” published on November 18, 2016, Smh.com.Au published: “BetaShares’ Strong Bear Fund offers way to beat big bad bear markets” on April 26, 2015. More interesting news about BETA BEAR ETF UNITS (ASX:BEAR) were released by: Bloomberg.com and their article: “Low-Volatility Funds Got Volatile as U.S. Stock Market Sold Off” published on September 11, 2016 as well as Forbes.com‘s news article titled: “How To Invest In The Stock Market With Kevin O’Leary Of Shark Tank” with publication date: July 18, 2015.

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