The stock of ETFS EQUITY SECURITIES LIMITED ETFS 3X DAILY SHORT FTSE 100 (LON:UK3S) gapped down by GBX 0.75 today and has GBX 436.16 target or 6.00% below today’s GBX 464.00 share price. The 9 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 436.16 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 1.12% or GBX 5.25 on November 30, hitting GBX 464. About 261,755 shares traded hands or 2.52% up from the average. ETFS EQUITY SECURITIES LIMITED ETFS 3X DAILY SHORT FTSE 100 (LON:UK3S) has declined 28.52% since April 21, 2016 and is downtrending. It has underperformed by 33.75% the S&P500.
Another recent and important ETFS EQUITY SECURITIES LIMITED ETFS 3X DAILY SHORT FTSE 100 (LON:UK3S) news was published by Nasdaq.com which published an article titled: “Sterling strength is bearish for FTSE 100, bullish for FTSE 250” on December 04, 2013.
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