The stock of iShares DEX Short Term Bond Index Fund (TSE:XSB) gapped down by $0.02 today and has $25.86 target or 8.00% below today’s $28.11 share price. The 7 months technical chart setup indicates high risk for the $2.35 billion company. The gap down was reported on Dec, 1 by Barchart.com. If the $25.86 price target is reached, the company will be worth $188.00M 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 185,187 shares traded hands or 120.96% up from the average. iShares DEX Short Term Bond Index Fund (TSE:XSB) has declined 0.78% since April 27, 2016 and is downtrending. It has underperformed by 6.70% the S&P500.
More news for iShares DEX Short Term Bond Index Fund (TSE:XSB) were recently published by: Theglobeandmail.com, which released: “Beware the risk in bond funds” on July 10, 2013. Theglobeandmail.com‘s article titled: “How safe are short-term bond funds?” and published on August 30, 2013 is yet another important article.
iShares DEX Short Term Bond Index Fund seeks to provide income by replicating, to the extent possible, the performance of the DEX Short Term Bond Index, net of expenses. The company has a market cap of $2.35 billion. The DEX Short Term Bond Index is a market capitalization weighted index consisting of a diversified range of investment grade federal, provincial, municipal and corporate bonds with a term to maturity between one and five years. It currently has negative earnings. XSB invests in sectors, such as federal, financial, provincial, energy and real estate.
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