The stock of LYXOR INTERNATIONAL ASSET MANAGEMENT LYXOR ETF BRAZIL (IBOVESPA) (LON:RIOL) gapped up by GBX 11.25 today and has GBX 1394.17 target or 6.00% above today’s GBX 1315.25 share price. The 8 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 1394.17 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 0.34% or GBX 4.5 on November 22, hitting GBX 1315.25. LYXOR INTERNATIONAL ASSET MANAGEMENT LYXOR ETF BRAZIL (IBOVESPA) (LON:RIOL) has risen 34.25% since April 5, 2016 and is uptrending. It has outperformed by 29.69% the S&P500.
More news for LYXOR INTERNATIONAL ASSET MANAGEMENT LYXOR ETF BRAZIL (IBOVESPA) (LON:RIOL) were recently published by: Bloomberg.com, which released: “Ibovespa Leads Global Declines as Rousseff Win Sinks Real” on October 27, 2014. Marketwatch.com‘s article titled: “6 investments you overlooked chasing the bull market” and published on July 23, 2015 is yet another important article.
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