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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