The stock of ISHARES EDGE MSCI MIN VOL EAFE IDX ETF (TSE:XMI) gapped down by $0.34 today and has $29.87 target or 5.00% below today’s $31.44 share price. The 8 months technical chart setup indicates high risk for the $226.30M company. The gap down was reported on Dec, 1 by Barchart.com. If the $29.87 price target is reached, the company will be worth $11.32 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 13,173 shares traded hands or 0.42% up from the average. ISHARES EDGE MSCI MIN VOL EAFE IDX ETF (TSE:XMI) has declined 2.61% since April 27, 2016 and is downtrending. It has underperformed by 8.53% the S&P500.
More recent ISHARES EDGE MSCI MIN VOL EAFE IDX ETF (TSE:XMI) news were published by: Etfdailynews.com which released: “Minimum Volatility ETFs: Five Years Later” on October 29, 2016. Also Etfdailynews.com published the news titled: “The Low Volatility ETF Purge Continues” on November 22, 2016. Marketwired.com‘s news article titled: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” with publication date: June 08, 2016 was also an interesting one.
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