The stock of iSHARES CORE SP 500 INDEX ETF (TSE:XUS) gapped down by $0.11 today and has $34.02 target or 7.00% below today’s $36.58 share price. The 5 months technical chart setup indicates high risk for the $756.43M company. The gap down was reported on Dec, 1 by Barchart.com. If the $34.02 price target is reached, the company will be worth $52.95 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 17,079 shares traded hands. iSHARES CORE SP 500 INDEX ETF (TSE:XUS) has risen 14.34% since April 29, 2016 and is uptrending. It has outperformed by 8.41% the S&P500.
More recent iSHARES CORE SP 500 INDEX ETF (TSE:XUS) news were published by: Nasdaq.com which released: “The Zacks Analyst Blog Highlights: iShares Core S&P 500 ETF, iShares Gold ETF …” on November 08, 2016. Also Nasdaq.com published the news titled: “iShares Core S&P 500 ETF Experiences Big Inflow” on August 08, 2016. Seekingalpha.com‘s news article titled: “IVV Now The Cheapest S&P 500 ETF On The Market” with publication date: October 11, 2016 was also an interesting one.
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