What’s in ETFS COMMODITY SECURITIES LIMITED ETFS 1X DAILY SHORT WTI CRUDE OIL After Today’s Gap Down?

 What's in ETFS COMMODITY SECURITIES LIMITED ETFS 1X DAILY SHORT WTI CRUDE OIL After Today's Gap Down?

The stock of ETFS COMMODITY SECURITIES LIMITED ETFS 1X DAILY SHORT WTI CRUDE OIL (LON:SOIL) gapped down by GBX 2.37 today and has GBX 83.08 target or 9.00% below today’s GBX 91.30 share price. The 5 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 22 by Barchart.com. If the GBX 83.08 price target is reached, the company will be worth GBX less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The ETF increased 0.24% or GBX 0.22 on November 22, hitting GBX 91.3. About 3,865 shares traded hands. ETFS COMMODITY SECURITIES LIMITED ETFS 1X DAILY SHORT WTI CRUDE OIL (LON:SOIL) has declined 10.12% since April 13, 2016 and is downtrending. It has underperformed by 14.68% the S&P500.

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