The stock of CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) gapped up by $0.56 today and has $8.37 target or 8.00% above today’s $7.75 share price. The 8 months technical chart setup indicates low risk for the $14.14 million company. The gap was reported on Nov, 30 by Barchart.com. If the $8.37 price target is reached, the company will be worth $1.13 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 17,897 shares traded hands or 1.25% up from the average. CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) has declined 13.89% since April 29, 2016 and is downtrending. It has underperformed by 19.11% the S&P500.
More important recent CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) news were published by: Theglobeandmail.com which released: “New ETF to track Canadian crude oil pricing” on May 10, 2015, also Prnewswire.com published article titled: “USCF Announces Collaboration On Canadian Crude Oil ETF With Auspice Capital …”, Business.Financialpost.com published: “Shedding light on domestic oil prices: New ETF will track Western Canadian …” on May 04, 2015. More interesting news about CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) was released by: Business.Financialpost.com and their article: “Take two: Is investing in commodities worth the effort and hand-wringing?” with publication date: April 18, 2016.
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