The stock of SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE INDUSTRIA S&P US SECTOR UCITS ETF (LON:XLIS) gapped up by GBX 0.86 today and has GBX 318.95 target or 3.00% above today’s GBX 309.66 share price. The 8 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 318.95 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 increased 0.72% or GBX 2.21 on November 23, hitting GBX 309.66. About 6,206 shares traded hands or 83.94% up from the average. SOURCE MARKETS PUBLIC LIMITED COMPANY SOURCE INDUSTRIA S&P US SECTOR UCITS ETF (LON:XLIS) has risen 26.07% since April 15, 2016 and is uptrending. It has outperformed by 20.74% the S&P500.
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