After Today’s Gap Down, Is SSGA SPDR ETFS EUROPE I PLC SPDR BARCLAYS US TIPS UCITS ETF’s Near-Term Analysis Negative?

 After Today's Gap Down, Is SSGA SPDR ETFS EUROPE I PLC SPDR BARCLAYS US TIPS UCITS ETF's Near Term Analysis Negative?

The stock of SSGA SPDR ETFS EUROPE I PLC SPDR BARCLAYS US TIPS UCITS ETF (LON:UTIP) gapped down by GBX 0.009 today and has GBX 23.21 target or 5.00% below today’s GBX 24.43 share price. The 5 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 29 by Barchart.com. If the GBX 23.21 price target is reached, the company will be worth GBX 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%. The ETF decreased 1.15% or GBX 0.28 on November 29, hitting GBX 24.43. About 81,199 shares traded hands or 100.46% up from the average. SSGA SPDR ETFS EUROPE I PLC SPDR BARCLAYS US TIPS UCITS ETF (LON:UTIP) has risen 14.66% since April 19, 2016 and is uptrending. It has outperformed by 9.40% the S&P500.

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