The stock of ETFS COMMODITY SECURITIES LIMITED ETFS 1X DAILY SHORT INDUSTRIAL METALS (LON:SIME) gapped down by GBX 0.765 today and has GBX 46.00 target or 4.00% below today’s GBX 47.92 share price. The 6 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 46.00 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 1.68% or GBX 0.82 on November 24, hitting GBX 47.92. About 18,136 shares traded hands or 2563.14% up from the average. ETFS COMMODITY SECURITIES LIMITED ETFS 1X DAILY SHORT INDUSTRIAL METALS (LON:SIME) has declined 18.35% since April 19, 2016 and is downtrending. It has underperformed by 23.76% the S&P500.
More recent ETFS COMMODITY SECURITIES LIMITED ETFS 1X DAILY SHORT INDUSTRIAL METALS (LON:SIME) news were published by: Seekingalpha.com which released: “How To Bet Against The Market Without Shorting Or Using Options” on December 01, 2011. Also Nasdaq.com published the news titled: “Profit From China Sell-Off Via These Inverse ETFs – ETF News And Commentary” on July 28, 2015. Etfdb.com‘s news article titled: “MLP ETFs: Fact And Fiction” with publication date: October 12, 2010 was also an interesting one.
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