The stock of Powershares Ultra DLUX Long Term Government Bond Index ETF (TSE:PGL) gapped down by $0.02 today and has $22.36 target or 3.00% below today’s $23.05 share price. The 6 months technical chart setup indicates high risk for the $477.02M company. The gap down was reported on Nov, 25 by Barchart.com. If the $22.36 price target is reached, the company will be worth $14.31M 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%. About 33,958 shares traded hands or 834.20% up from the average. Powershares Ultra DLUX Long Term Government Bond Index ETF (TSE:PGL) has declined 1.91% since April 21, 2016 and is downtrending. It has underperformed by 7.32% the S&P500.
More news for Powershares Ultra DLUX Long Term Government Bond Index ETF (TSE:PGL) were recently published by: Theglobeandmail.com, which released: “Beware the risk in bond funds” on July 10, 2013. Theglobeandmail.com‘s article titled: “Four tips for nervous bond investors” and published on June 14, 2013 is yet another important article.
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