The stock of ETFS EQUITY SECURITIES LIMITED ETFS 3X DAILY SHORT FTSE 100 (LON:UK3S) gapped up by GBX 0.5 today and has GBX 496.48 target or 7.00% above today’s GBX 464.00 share price. The 8 months technical chart setup indicates low risk for the GBX company. The gap was reported on Nov, 30 by Barchart.com. If the GBX 496.48 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 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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