Could iShares MSCI EAFE Index Fund CAD Hedged Change Direction After Today’s Gap Down?

 Could iShares MSCI EAFE Index Fund CAD Hedged Change Direction After Today's Gap Down?

The stock of iShares MSCI EAFE Index Fund CAD Hedged (TSE:XIN) gapped down by $0.01 today and has $21.46 target or 5.00% below today’s $22.59 share price. The 9 months technical chart setup indicates high risk for the $1.23B company. The gap down was reported on Dec, 1 by Barchart.com. If the $21.46 price target is reached, the company will be worth $61.50M 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 14,922 shares traded hands. iShares MSCI EAFE Index Fund CAD Hedged (TSE:XIN) has risen 2.52% since April 27, 2016 and is uptrending. It has underperformed by 3.40% the S&P500.

More notable recent iShares MSCI EAFE Index Fund CAD Hedged (TSE:XIN) news were published by: Etfdailynews.com which released: “Decoding International Equity ETF Returns [iShares MSCI EAFE Index Fund CAD …” on December 05, 2014, also Marketwatch.com with their article: “BlackRock Canada Expands its iShares’ Minimum Volatility ETF Suite with Launch …” published on April 11, 2016, Marketwired.com published: “Blackrock Canada Announces Changes to Certain iShares Funds” on March 24, 2014. More interesting news about iShares MSCI EAFE Index Fund CAD Hedged (TSE:XIN) were released by: Fool.ca and their article: “Trim Your iShares S&P/TSX 60 Index Fund: Buy This Global ETF With Proceeds” published on September 09, 2016 as well as Marketwired.com‘s news article titled: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” with publication date: June 08, 2016.

iShares MSCI EAFE Index Fund , formerly iShares CDN MSCI EAFE 100% Hedged to CAD Dollars Index Fund, seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the MSCI EAFE 100% Hedged to CAD Dollars Index (the Index). The company has a market cap of $1.23 billion. The Index is a free float-adjusted market capitalization-weighted Index provided by Morgan Stanley Capital International, Inc. (MSCI) that includes securities from Europe, Australasia and the Far East, hedged to Canadian dollars. It currently has negative earnings. The Index comprises 21 MSCI country indices representing the developed markets outside of North America, including Europe, Australasia and the Far East.

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