The stock of ISHARES VII PLC ISHRS EUR GOVT BOND 7-10YR ETF EUR (ACC) (LON:CBE0) gapped up by GBX 0.225 today and has GBX 162.15 target or 5.00% above today’s GBX 154.43 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 162.15 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 0.10% or GBX 0.16 on November 30, hitting GBX 154.43. ISHARES VII PLC ISHRS EUR GOVT BOND 7-10YR ETF EUR (ACC) (LON:CBE0) has declined 0.27% since April 21, 2016 and is downtrending. It has underperformed by 5.50% the S&P500.
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