What Next for Claymore Canadian Financial Monthly Income ETF After Today’s Gap Up?

 What Next for Claymore Canadian Financial Monthly Income ETF After Today's Gap Up?

The stock of Claymore Canadian Financial Monthly Income ETF (TSE:FIE) gapped up by $0.01 today and has $7.24 target or 3.00% above today’s $7.03 share price. The 6 months technical chart setup indicates low risk for the $376.25M company. The gap was reported on Nov, 22 by Barchart.com. If the $7.24 price target is reached, the company will be worth $11.29 million 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%. About 35,420 shares traded hands. Claymore Canadian Financial Monthly Income ETF (TSE:FIE) has risen 5.90% since April 18, 2016 and is uptrending. It has outperformed by 1.34% the S&P500.

More news for Claymore Canadian Financial Monthly Income ETF (TSE:FIE) were recently published by: Business.Financialpost.com, which released: “Gordon Pape: “no fan” of indexing or couch potato portfolios” on January 04, 2012. Theglobeandmail.com‘s article titled: “Top ETF picks for your RRSP” and published on February 16, 2011 is yet another important article.

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