The stock of ETFS COMMODITY SECURITIES LIMITED ETFS COPPER (LON:COPA) gapped down by GBX 0.427 today and has GBX 24.38 target or 4.00% below today’s GBX 25.40 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 24.38 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 3.27% or GBX 0.86 on November 29, hitting GBX 25.4. About 27,562 shares traded hands. ETFS COMMODITY SECURITIES LIMITED ETFS COPPER (LON:COPA) has risen 18.27% since April 20, 2016 and is uptrending. It has outperformed by 13.02% the S&P500.
Another recent and important ETFS COMMODITY SECURITIES LIMITED ETFS COPPER (LON:COPA) news was published by Etftrends.com which published an article titled: “Gold Miners Are Not a Substitute for Gold ETFs” on October 18, 2016.
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