Betashares Crude Oil Index ETF-Currency Hedged (Synthetic) Gaps Up; Strong Momentum for Buyers

 Betashares Crude Oil Index ETF Currency Hedged (Synthetic) Gaps Up; Strong Momentum for Buyers

The stock of Betashares Crude Oil Index ETF-Currency Hedged (Synthetic) (ASX:OOO) gapped up by $1.11 today and has $16.40 target or 7.00% above today’s $15.33 share price. The 6 months technical chart setup indicates low risk for the $ company. The gap was reported on Dec, 1 by Barchart.com. If the $16.40 price target is reached, the company will be worth $ 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 9.50% or $1.33 on December 1, hitting $15.33. About 118,559 shares traded hands or 430.13% up from the average. Betashares Crude Oil Index ETF-Currency Hedged (Synthetic) (ASX:OOO) has declined 4.63% since April 26, 2016 and is downtrending. It has underperformed by 10.56% the S&P500.

Another recent and important Betashares Crude Oil Index ETF-Currency Hedged (Synthetic) (ASX:OOO) news was published by Fool.com.Au which published an article titled: “Investors in oil shares heading for disappointment in 2016” on December 22, 2015.

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