The stock of SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE REAL EST SP US SELECT SECTOR ETF (LON:XRES) gapped up by GBX 0.055 today and has GBX 14.52 target or 6.00% above today’s GBX 13.70 share price. The 6 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 14.52 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 0.15% or GBX 0.02 on November 22, hitting GBX 13.7. About 84,000 shares traded hands or 54.54% up from the average. SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE REAL EST SP US SELECT SECTOR ETF (LON:XRES) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
More notable recent SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE REAL EST SP US SELECT SECTOR ETF (LON:XRES) news were published by: Marketwatch.com which released: “Charting the S&P 500’s break to ‘clear skies’ territory” on July 12, 2016, also Marketwatch.com with their article: “Charting the S&P 500’s next technical target” published on July 19, 2016, Marketwatch.com published: “Social Media ETF surges to new high on report of possible Twitter deal” on September 23, 2016. More interesting news about SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE REAL EST SP US SELECT SECTOR ETF (LON:XRES) were released by: Forbes.com and their article: “Why 2016 Should Be An Awesome Year To Invest In REITs” published on December 18, 2015 as well as Forbes.com‘s news article titled: “How To Play Billion-Dollar Real Estate Deals With Just $1000” with publication date: December 03, 2015.
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