The stock of PowerShares 1-3 Year Laddered Floating Rate Note Index ETF (TSE:PFL) gapped down by $0.02 today and has $18.27 target or 8.00% below today’s $19.86 share price. The 5 months technical chart setup indicates high risk for the $45.72M company. The gap down was reported on Dec, 1 by Barchart.com. If the $18.27 price target is reached, the company will be worth $3.66 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 26,503 shares traded hands or 970.83% up from the average. PowerShares 1-3 Year Laddered Floating Rate Note Index ETF (TSE:PFL) has risen 0.10% since May 3, 2016 and is uptrending. It has underperformed by 5.82% the S&P500.
More notable recent PowerShares 1-3 Year Laddered Floating Rate Note Index ETF (TSE:PFL) news were published by: Marketwatch.com which released: “Invesco announces cash distributions for Canadian-listed PowerShares ETFs” on September 20, 2016, also Marketwatch.com with their article: “PowerShares Canada announces estimated 2016 annual distributions for Canadian …” published on November 18, 2016, Business.Financialpost.com published: “How to use ETFs to hedge against interest rate hikes” on February 10, 2015. More interesting news about PowerShares 1-3 Year Laddered Floating Rate Note Index ETF (TSE:PFL) were released by: Investmentnews.com and their article: “Bond ETFs’ resiliency surprises many investors” published on April 19, 2015 as well as Forbes.com‘s news article titled: “ETF Directory With Cost Ratings” with publication date: October 13, 2016.
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