The stock of PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) gapped down by $0.12 today and has $19.26 target or 4.00% below today’s $20.06 share price. The 6 months technical chart setup indicates high risk for the $150.47 million company. The gap down was reported on Nov, 25 by Barchart.com. If the $19.26 price target is reached, the company will be worth $6.02M 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 31,326 shares traded hands or 382.01% up from the average. PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) has risen 2.89% since April 21, 2016 and is uptrending. It has underperformed by 2.52% the S&P500.
More recent PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) news were published by: Marketwatch.com which released: “Invesco announces cash distributions for Canadian-listed PowerShares ETFs” on September 20, 2016. Also Barrons.com published the news titled: “The Pros Pick 20 ETFs for Today’s Market” on May 07, 2016. Wsj.com‘s news article titled: “Bond ETFs That Use Fundamental Indexing Are Off to Slow Start” with publication date: September 04, 2013 was also an interesting one.
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