The stock of HSBC ETFS PLC HSBC MSCI EMERGING MARKETS UCITS ETF (LON:HMEF) gapped up by GBX 3.625 today and has GBX 709.67 target or 3.00% above today’s GBX 689.00 share price. The 7 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 709.67 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 0.24% or GBX 1.62 on November 23, hitting GBX 689. About 13,540 shares traded hands. HSBC ETFS PLC HSBC MSCI EMERGING MARKETS UCITS ETF (LON:HMEF) has risen 14.94% since April 15, 2016 and is uptrending. It has outperformed by 9.61% the S&P500.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.