The stock of GO UCITS ETF SOLUTIONS PLC ETFS LONGER DATED ALL COMMODITIES (LON:CMFP) gapped up by GBX 2.13 today and has GBX 1153.36 target or 4.00% above today’s GBX 1109.00 share price. The 9 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 1153.36 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 increased 0.80% or GBX 8.75 on November 22, hitting GBX 1109. About 46,668 shares traded hands. GO UCITS ETF SOLUTIONS PLC ETFS LONGER DATED ALL COMMODITIES (LON:CMFP) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.