Could iSHARES CANADIAN CORPORATE BOND IDX ETF Change Direction After Today’s Gap Down?

 Could iSHARES CANADIAN CORPORATE BOND IDX ETF Change Direction After Today's Gap Down?

The stock of iSHARES CANADIAN CORPORATE BOND IDX ETF (TSE:XCB) gapped down by $0.04 today and has $20.40 target or 4.00% below today’s $21.25 share price. The 6 months technical chart setup indicates high risk for the $1.63B company. The gap down was reported on Dec, 1 by Barchart.com. If the $20.40 price target is reached, the company will be worth $65.20M 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%. About 20,243 shares traded hands. iSHARES CANADIAN CORPORATE BOND IDX ETF (TSE:XCB) has 0.00% since April 27, 2016 and is . It has underperformed by 5.93% the S&P500.

More notable recent iSHARES CANADIAN CORPORATE BOND IDX ETF (TSE:XCB) news were published by: Marketwired.com which released: “BlackRock(R) Canada Announces October Cash Distributions for the iShares(R) ETFs” on October 13, 2016, also Theglobeandmail.com with their article: “Bond ETFs confuse you? Here’s a simple guide” published on December 16, 2011, Marketwired.com published: “BlackRock® Canada Announces August Cash Distributions for the iShares® ETFs” on August 15, 2016. More interesting news about iSHARES CANADIAN CORPORATE BOND IDX ETF (TSE:XCB) were released by: Marketwired.com and their article: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” published on September 07, 2016 as well as Marketwired.com‘s news article titled: “BlackRock(R) Canada Announces July Cash Distributions for the iShares(R) ETFs” with publication date: April 20, 2016.

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