Is LYXOR INTERNATIONAL ASSET MANAGEMENT LYXOR UCITS ETF FTSE MIB a Sell? The Stock Gapped Down Today

 Is LYXOR INTERNATIONAL ASSET MANAGEMENT LYXOR UCITS ETF FTSE MIB a Sell? The Stock Gapped Down Today

The stock of LYXOR INTERNATIONAL ASSET MANAGEMENT LYXOR UCITS ETF FTSE MIB (LON:MIBX) gapped down by GBX 2.25 today and has GBX 1293.35 target or 6.00% below today’s GBX 1375.90 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 1293.35 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 0.41% or GBX 5.6 on November 24, hitting GBX 1375.9. About 206,450 shares traded hands or 109.89% up from the average. LYXOR INTERNATIONAL ASSET MANAGEMENT LYXOR UCITS ETF FTSE MIB (LON:MIBX) has declined 4.15% since April 19, 2016 and is downtrending. It has underperformed by 9.56% the S&P500.

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