The stock of ETFS FOREIGN EXCHANGE LIMITED ETFS 3X LONG GBP SHORT USD (LON:LGB3) gapped up by GBX 0.158 today and has GBX 19.15 target or 4.00% above today’s GBX 18.41 share price. The 9 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 30 by Barchart.com. If the GBX 19.15 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 increased 0.31% or GBX 0.06 on November 30, hitting GBX 18.41. ETFS FOREIGN EXCHANGE LIMITED ETFS 3X LONG GBP SHORT USD (LON:LGB3) has declined 39.88% since April 22, 2016 and is downtrending. It has underperformed by 45.10% the S&P500.
Another recent and important ETFS FOREIGN EXCHANGE LIMITED ETFS 3X LONG GBP SHORT USD (LON:LGB3) news was published by Nasdaq.com which published an article titled: “Guide to The 10 Most Popular Leveraged ETFs – ETF News And Commentary” on November 01, 2012.
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