iSHARES CORE SP 500 INDEX ETF’s Trend Down, Especially After Today’s Gap Down

 iSHARES CORE SP 500 INDEX ETF's Trend Down, Especially After Today's Gap Down

The stock of iSHARES CORE SP 500 INDEX ETF (TSE:XUS) gapped down by $0.16 today and has $34.48 target or 7.00% below today’s $37.07 share price. The 9 months technical chart setup indicates high risk for the $759.82 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $34.48 price target is reached, the company will be worth $53.19M 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 15,746 shares traded hands. iSHARES CORE SP 500 INDEX ETF (TSE:XUS) has risen 13.92% since April 26, 2016 and is uptrending. It has outperformed by 7.90% the S&P500.

More recent iSHARES CORE SP 500 INDEX ETF (TSE:XUS) news were published by: Nasdaq.com which released: “The Zacks Analyst Blog Highlights: iShares Core S&P 500 ETF, iShares Gold ETF …” on November 08, 2016. Also Nasdaq.com published the news titled: “iShares Core S&P 500 ETF Experiences Big Inflow” on August 08, 2016. Seekingalpha.com‘s news article titled: “IVV Now The Cheapest S&P 500 ETF On The Market” with publication date: October 11, 2016 was also an interesting one.

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