Could iSHARES CANADIAN CORPORATE BOND IDX ETF See a Reversal After Having a Gap Down Now?

 Could iSHARES CANADIAN CORPORATE BOND IDX ETF See a Reversal After Having a Gap Down Now?

The stock of iSHARES CANADIAN CORPORATE BOND IDX ETF (TSE:XCB) gapped down by $0.04 today and has $20.61 target or 3.00% below today’s $21.25 share price. The 5 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 $20.61 price target is reached, the company will be worth $48.90 million 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 45,611 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 Marketwired.com with their article: “BlackRock® Canada Announces August Cash Distributions for the iShares® ETFs” published on August 15, 2016, Marketwired.com published: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” on September 07, 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 July Cash Distributions for the iShares(R) ETFs” published on April 20, 2016 as well as Marketwired.com‘s news article titled: “BlackRock® Canada Announces April Cash Distributions for the iShares® ETFs” with publication date: April 13, 2016.

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