The stock of BARCLAYS BANK PLC IPATH S&P 500 VIX SHORT-TERM FUTURES ETN (LON:VXIS) gapped down by GBX 0.2 today and has GBX 19.96 target or 8.00% below today’s GBX 21.70 share price. The 7 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 30 by Barchart.com. If the GBX 19.96 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 stock decreased 2.91% or GBX 0.65 on November 30, hitting GBX 21.7. About 15,820 shares traded hands. BARCLAYS BANK PLC IPATH S&P 500 VIX SHORT-TERM FUTURES ETN (LON:VXIS) has declined 49.32% since April 20, 2016 and is downtrending. It has underperformed by 54.55% the S&P500.
More notable recent BARCLAYS BANK PLC IPATH S&P 500 VIX SHORT-TERM FUTURES ETN (LON:VXIS) news were published by: Marketwatch.com which released: “Barclays Bank PLC iPath S&P 500 VIX Short-Term Futures ETN” on December 21, 2009, also Businesswire.com with their article: “Barclays Bank PLC Announces Reverse Split of Two iPath® Volatility ETNs” published on July 26, 2016, Benzinga.com published: “Why All Eyes Should Be On The VIX” on May 04, 2016. More interesting news about BARCLAYS BANK PLC IPATH S&P 500 VIX SHORT-TERM FUTURES ETN (LON:VXIS) were released by: Seekingalpha.com and their article: “iPath S&P 500 VIX Short-Term Futures ETN: Swimming Against the Currents” published on May 05, 2011 as well as Fool.com‘s news article titled: “The VXX: It’s Not Quite What It Seems” with publication date: October 23, 2015.
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