The stock of ISHARES PLC ISHARES MSCI JAPAN UCITS ETF USD (DIST) (LON:IJPN) gapped down by GBX 0.45 today and has GBX 925.95 target or 7.00% below today’s GBX 995.65 share price. The 8 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 24 by Barchart.com. If the GBX 925.95 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 decreased 0.51% or GBX 5.1 on November 24, hitting GBX 995.65. About 12,567 shares traded hands. ISHARES PLC ISHARES MSCI JAPAN UCITS ETF USD (DIST) (LON:IJPN) has risen 19.99% since April 15, 2016 and is uptrending. It has outperformed by 14.58% the S&P500.
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