Could iShares S&P TSX Global Base Metals Index Fund Change Direction After Today’s Gap Up?

 Could iShares S&P TSX Global Base Metals Index Fund Change Direction After Today's Gap Up?

The stock of iShares S&P TSX Global Base Metals Index Fund (TSE:XBM) gapped up by $0.07 today and has $13.73 target or 7.00% above today’s $12.83 share price. The 7 months technical chart setup indicates low risk for the $94.20 million company. The gap was reported on Nov, 24 by Barchart.com. If the $13.73 price target is reached, the company will be worth $6.59M 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%. About 15,499 shares traded hands. iShares S&P TSX Global Base Metals Index Fund (TSE:XBM) has risen 40.51% since April 20, 2016 and is uptrending. It has outperformed by 35.10% the S&P500.

More notable recent iShares S&P TSX Global Base Metals Index Fund (TSE:XBM) news were published by: Marketwired.com which released: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” on September 07, 2016, also Marketwired.com with their article: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” published on June 08, 2016, Marketwired.com published: “BlackRock® Canada Announces March Cash Distributions for the iShares® ETFs” on March 09, 2016. More interesting news about iShares S&P TSX Global Base Metals Index Fund (TSE:XBM) were released by: Theglobeandmail.com and their article: “Three top ETF picks from Shaunessy Investment’s Terry Shaunessy” published on September 24, 2015 as well as Marketwired.com‘s news article titled: “BlackRock(R) Announces Final Annual Reinvested Capital Gains Distributions for …” with publication date: December 24, 2014.

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