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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