The stock of ETFS COMMODITY SECURITIES LIMITED ETFS WTI CRUDE OIL (LON:CRUD) gapped up by GBX 0.078 today and has GBX 8.03 target or 7.00% above today’s GBX 7.50 share price. The 7 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 8.03 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 decreased 1.04% or GBX 0.08 on November 22, hitting GBX 7.5. About 5.95 million shares traded hands or 387.70% up from the average. ETFS COMMODITY SECURITIES LIMITED ETFS WTI CRUDE OIL (LON:CRUD) has risen 1.08% since April 14, 2016 and is uptrending. It has underperformed by 3.47% the S&P500.
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.