The stock of SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE RUSSELL 2000 UCITS ETF (LON:RTYS) gapped up by GBX 0.075 today and has GBX 65.21 target or 5.00% above today’s GBX 62.10 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 65.21 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 0.92% or GBX 0.56 on November 22, hitting GBX 62.1. About 284,082 shares traded hands or 1002.85% up from the average. SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE RUSSELL 2000 UCITS ETF (LON:RTYS) has risen 17.18% since April 14, 2016 and is uptrending. It has outperformed by 12.62% the S&P500.
Another recent and important SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE RUSSELL 2000 UCITS ETF (LON:RTYS) news was published by Businesswire.com which published an article titled: “First Trust Global Portfolios Launches the First Trust US IPO Index UCITS ETF” on August 27, 2015.
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