The stock of Purpose Duration Hedged Real Estate Fund (TSE:PHR) gapped up by $0.09 today and has $20.75 target or 5.00% above today’s $19.76 share price. The 6 months technical chart setup indicates low risk for the $24.55 million company. The gap was reported on Nov, 25 by Barchart.com. If the $20.75 price target is reached, the company will be worth $1.23 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 13,806 shares traded hands or 154.63% up from the average. Purpose Duration Hedged Real Estate Fund (TSE:PHR) has declined 2.14% since April 21, 2016 and is downtrending. It has underperformed by 7.55% the S&P500.
More notable recent Purpose Duration Hedged Real Estate Fund (TSE:PHR) news were published by: Marketwired.com which released: “Purpose Investments Inc. Announces August Distributions” on August 22, 2016, also Marketwired.com with their article: “Purpose Investments Inc. Announces October Distributions” published on July 23, 2016, Pionline.com published: “CalSTRS preps risk-mitigation portfolio” on April 16, 2016. More interesting news about Purpose Duration Hedged Real Estate Fund (TSE:PHR) were released by: Theglobeandmail.com and their article: “Millennials find much to like about ETFs” published on March 24, 2016 as well as Seekingalpha.com‘s news article titled: “Apollo Commercial Real Estate Finance – Double Hedge Against Rate Hikes – 11.3 …” with publication date: September 06, 2016.
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