The stock of SSGA SPDR ETFS EUROPE I PLC SPDR BAR EM LOCAL BOND UCITS ETF $ (LON:EMDD) gapped up by GBX 0.15 today and has GBX 75.41 target or 9.00% above today’s GBX 69.18 share price. The 8 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 28 by Barchart.com. If the GBX 75.41 price target is reached, the company will be worth GBX 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%. The ETF increased 0.84% or GBX 0.58 on November 28, hitting GBX 69.18. About 32,544 shares traded hands. SSGA SPDR ETFS EUROPE I PLC SPDR BAR EM LOCAL BOND UCITS ETF $ (LON:EMDD) has risen 5.22% since April 19, 2016 and is uptrending. It has underperformed by 0.79% the S&P500.
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