The stock of iShares S&P TSX Global Gold Index Fund (TSE:XGD) gapped down by $0.07 today and has $10.47 target or 9.00% below today’s $11.51 share price. The 9 months technical chart setup indicates high risk for the $645.58 million company. The gap down was reported on Nov, 23 by Barchart.com. If the $10.47 price target is reached, the company will be worth $58.10M 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%. About 1.11M shares traded hands. iShares S&P TSX Global Gold Index Fund (TSE:XGD) has declined 5.04% since April 19, 2016 and is downtrending. It has underperformed by 10.37% the S&P500.
More notable recent iShares S&P TSX Global Gold Index Fund (TSE:XGD) news were published by: Theglobeandmail.com which released: “Five ETFs to choose from as gold stocks finally come alive” on July 17, 2013, also Marketwired.com with their article: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” published on June 08, 2016, Theglobeandmail.com published: “ETFs to consider as gold’s season of strength gets underway” on July 25, 2014. More interesting news about iShares S&P TSX Global Gold Index Fund (TSE:XGD) were released by: Marketwired.com and their article: “BlackRock® Canada Announces March Cash Distributions for the iShares® ETFs” published on March 09, 2016 as well as Marketwired.com‘s news article titled: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” with publication date: September 07, 2016.
iShares S&P/TSX Global Gold Index Fund seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P/TSX Global Gold Index through investments in the constituent issuers of such index, net of expenses. The company has a market cap of $645.58 million. The Index is comprised of securities of global gold sector issuers selected by Standard & Poor’s using its industrial classifications and guidelines for evaluating issuer capitalization, liquidity and fundamentals. It currently has negative earnings. The S&P/TSX Global Gold Index is defined using Global Industry Classification Standard (GICS) sector classification.
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