The stock of VANECK VECTORS UCITS ETFS PLC VANECK VECTORS GOLD MINERS A SHARES (LON:GDX) gapped up by GBX 0.035 today and has GBX 23.80 target or 8.00% above today’s GBX 22.04 share price. The 7 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 22 by Barchart.com. If the GBX 23.80 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 decreased 1.24% or GBX 0.28 on November 22, hitting GBX 22.04. About 26,657 shares traded hands. VANECK VECTORS UCITS ETFS PLC VANECK VECTORS GOLD MINERS A SHARES (LON:GDX) has declined 1.55% since April 14, 2016 and is downtrending. It has underperformed by 6.11% the S&P500.
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