The stock of VANGUARD SP 500 INDEX ETF (TSE:VFV) gapped down by $0.14 today and has $47.41 target or 9.00% below today’s $52.10 share price. The 8 months technical chart setup indicates high risk for the $914.35M company. The gap down was reported on Dec, 1 by Barchart.com. If the $47.41 price target is reached, the company will be worth $82.29M 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 16,709 shares traded hands. VANGUARD SP 500 INDEX ETF (TSE:VFV) has risen 12.23% since April 27, 2016 and is uptrending. It has outperformed by 6.31% the S&P500.
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