POWERSHARES GLBAL FUNDS IRELAND PLC POWERSHARES FTSE RAFI US 1000 UCITS ETF Gap Down Today Means Higher Risks Forward

 POWERSHARES GLBAL FUNDS IRELAND PLC POWERSHARES FTSE RAFI US 1000 UCITS ETF Gap Down Today Means Higher Risks Forward

The stock of POWERSHARES GLBAL FUNDS IRELAND PLC POWERSHARES FTSE RAFI US 1000 UCITS ETF (LON:PRUS) gapped down by GBX 0.047 today and has GBX 15.19 target or 6.00% below today’s GBX 16.16 share price. The 9 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 15.19 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 0.29% or GBX 0.05 on November 29, hitting GBX 16.16. About 154,044 shares traded hands or 3366.34% up from the average. POWERSHARES GLBAL FUNDS IRELAND PLC POWERSHARES FTSE RAFI US 1000 UCITS ETF (LON:PRUS) has risen 30.51% since January 20, 2016 and is uptrending. It has outperformed by 25.25% the S&P500.

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