What’s ETFS COMMODITY SECURITIES LIMITED ETFS ZINC Upside After Today’s Gap Up?

 What's ETFS COMMODITY SECURITIES LIMITED ETFS ZINC Upside After Today's Gap Up?

The stock of ETFS COMMODITY SECURITIES LIMITED ETFS ZINC (LON:ZINC) gapped up by GBX 0.11 today and has GBX 8.33 target or 4.00% above today’s GBX 8.01 share price. The 9 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 29 by Barchart.com. If the GBX 8.33 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 7.25% or GBX 0.63 on November 29, hitting GBX 8.01. About 20,642 shares traded hands. ETFS COMMODITY SECURITIES LIMITED ETFS ZINC (LON:ZINC) has risen 50.68% since April 20, 2016 and is uptrending. It has outperformed by 45.42% the S&P500.

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