The stock of ISHARES II PLC ISHRS EUR GOVT BOND 3-5YR ETF EUR (DIST) (LON:IBGX) gapped down by GBX 0.922 today and has GBX 130.22 target or 9.00% below today’s GBX 143.10 share price. The 8 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 22 by Barchart.com. If the GBX 130.22 price target is reached, the company will be worth GBX 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 increased 0.32% or GBX 0.45 on November 22, hitting GBX 143.1. About 35 shares traded hands. ISHARES II PLC ISHRS EUR GOVT BOND 3-5YR ETF EUR (DIST) (LON:IBGX) has risen 0.57% since March 14, 2016 and is uptrending. It has underperformed by 3.98% 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.