The stock of PowerShares 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (TSE:PSB) gapped down by $0.04 today and has $17.46 target or 7.00% below today’s $18.77 share price. The 7 months technical chart setup indicates high risk for the $735.42M company. The gap down was reported on Nov, 25 by Barchart.com. If the $17.46 price target is reached, the company will be worth $51.48 million 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 60,048 shares traded hands or 92.82% up from the average. PowerShares 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (TSE:PSB) has declined 1.16% since April 21, 2016 and is downtrending. It has underperformed by 6.57% the S&P500.
More notable recent PowerShares 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (TSE:PSB) news were published by: Zacks.com which released: “PowerShares Adds Laddered Bond ETF to Suite” on September 15, 2014, also Marketwatch.com with their article: “Invesco announces cash distributions for Canadian-listed PowerShares ETFs” published on November 18, 2016, Nasdaq.com published: “PowerShares Adds Laddered Bond ETF to Suite – ETF News And Commentary” on September 15, 2014. More interesting news about PowerShares 1-5 Year Laddered Investment Grade Corporate Bond Index ETF (TSE:PSB) were released by: Business.Financialpost.com and their article: “ETFs more complex than you think” published on November 30, 2011 as well as Investmentnews.com‘s news article titled: “Bond ETFs’ resiliency surprises many investors” with publication date: April 19, 2015.
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