The stock of iSHARES SP TSX SMALLCAP INDEX ETF (TSE:XCS) gapped up by $0.23 today and has $16.96 target or 5.00% above today’s $16.15 share price. The 5 months technical chart setup indicates low risk for the $133.06 million company. The gap was reported on Nov, 30 by Barchart.com. If the $16.96 price target is reached, the company will be worth $6.65 million 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%. About 23,400 shares traded hands or 57.43% up from the average. iSHARES SP TSX SMALLCAP INDEX ETF (TSE:XCS) has risen 9.54% since April 26, 2016 and is uptrending. It has outperformed by 4.32% the S&P500.
More important recent iSHARES SP TSX SMALLCAP INDEX ETF (TSE:XCS) news were published by: Theglobeandmail.com which released: “Five ETFs to capture the ‘small-cap effect'” on December 19, 2014, also Marketwired.com published article titled: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs”, Marketwired.com published: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” on June 08, 2016. More interesting news about iSHARES SP TSX SMALLCAP INDEX ETF (TSE:XCS) was released by: Theglobeandmail.com and their article: “The Globe and Mail” with publication date: November 26, 2009.
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