The stock of ETFS HEDGED COMMODITY SECURITIES LIMITED ETFS GBP DAILY HEDGED COPPER (LON:PCOP) gapped up by GBX 14.375 today and has GBX 633.36 target or 4.00% above today’s GBX 609.00 share price. The 7 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 24 by Barchart.com. If the GBX 633.36 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 2.31% or GBX 13.75 on November 24, hitting GBX 609. About 18,629 shares traded hands or 73.52% up from the average. ETFS HEDGED COMMODITY SECURITIES LIMITED ETFS GBP DAILY HEDGED COPPER (LON:PCOP) has risen 14.39% since April 19, 2016 and is uptrending. It has outperformed by 8.98% the S&P500.
Another recent and important ETFS HEDGED COMMODITY SECURITIES LIMITED ETFS GBP DAILY HEDGED COPPER (LON:PCOP) news was published by Seekingalpha.com which published an article titled: “Commodities Relative Value – Capitalizing On High Volatility Across The …” on May 26, 2016.
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