The stock of LYXOR INTERNATIONAL ASSET MANAGEMENT LYXOR UCITS ETF CAC 40 (LON:CACX) gapped up by GBX 17.98 today and has GBX 4084.24 target or 7.00% above today’s GBX 3817.05 share price. The 6 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 30 by Barchart.com. If the GBX 4084.24 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 0.33% or GBX 12.55 on November 30, hitting GBX 3817.05. About 13,986 shares traded hands. LYXOR INTERNATIONAL ASSET MANAGEMENT LYXOR UCITS ETF CAC 40 (LON:CACX) has risen 6.20% since April 20, 2016 and is uptrending. It has outperformed by 0.97% the S&P500.
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