The stock of ETFS COMMODITY SECURITIES LIMITED ETFS SOYBEANS (LON:SOYB) gapped down by GBX 0.223 today and has GBX 21.84 target or 6.00% below today’s GBX 23.23 share price. The 6 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 21.84 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 0.95% or GBX 0.22 on November 30, hitting GBX 23.23. About 24,100 shares traded hands or 300.73% up from the average. ETFS COMMODITY SECURITIES LIMITED ETFS SOYBEANS (LON:SOYB) has risen 5.62% since April 20, 2016 and is uptrending. It has outperformed by 0.39% the S&P500.
Another recent and important ETFS COMMODITY SECURITIES LIMITED ETFS SOYBEANS (LON:SOYB) news was published by Forbes.com which published an article titled: “Going Against the Grain: Risks and Opportunities in Agricultural Commodities” on August 19, 2015.