The stock of ETFS COMMODITY SECURITIES LIMITED ETFS 2X DAILY LONG ZINC (LON:LZIC) gapped up by GBX 0.302 today and has GBX 9.32 target or 6.00% above today’s GBX 8.79 share price. The 5 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 29 by Barchart.com. If the GBX 9.32 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 decreased 13.64% or GBX 1.39 on November 29, hitting GBX 8.79. About 29,328 shares traded hands or 257.31% up from the average. ETFS COMMODITY SECURITIES LIMITED ETFS 2X DAILY LONG ZINC (LON:LZIC) has risen 117.53% since April 20, 2016 and is uptrending. It has outperformed by 112.27% the S&P500.
More news for ETFS COMMODITY SECURITIES LIMITED ETFS 2X DAILY LONG ZINC (LON:LZIC) were recently published by: Zacks.com, which released: “10 Leveraged/Inverse ETFs Winners YTD” on October 19, 2015. Seekingalpha.com‘s article titled: “Silver May Be A ‘Poor Mans Gold’ But It Could Still Make You Rich If You …” and published on August 20, 2012 is yet another important article.
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