PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF Gaps Down Today, Is Now One of The Worst Performers

 PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF Gaps Down Today, Is Now One of The Worst Performers

The stock of PowerShares Fundamental High Yield Corporate Bond Canada Hedged Index ETF (TSE:PFH) gapped down by $0.12 today and has $19.47 target or 3.00% below today’s $20.07 share price. The 5 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 $19.47 price target is reached, the company will be worth $4.51 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 12,100 shares traded hands or 86.18% 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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