The stock of ISHARES GLOBAL AGRI INDEX ETF (TSE:COW) gapped down by $0.05 today and has $32.85 target or 6.00% below today’s $34.95 share price. The 8 months technical chart setup indicates high risk for the $231.61 million company. The gap down was reported on Dec, 1 by Barchart.com. If the $32.85 price target is reached, the company will be worth $13.90 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 22,844 shares traded hands or 96.63% up from the average. ISHARES GLOBAL AGRI INDEX ETF (TSE:COW) has risen 15.74% since April 27, 2016 and is uptrending. It has outperformed by 9.82% the S&P500.
More notable recent ISHARES GLOBAL AGRI INDEX ETF (TSE:COW) news were published by: Marketwatch.com which released: “BlackRock(R) Canada Announces Estimated 2016 Annual Reinvested Capital Gains …” on November 17, 2016, also Theglobeandmail.com with their article: “Three top ETF picks from BBSL’s John DeGoey” published on February 29, 2016, Theglobeandmail.com published: “Nine top ETF picks: ‘The US recovery is real'” on August 25, 2014. More interesting news about ISHARES GLOBAL AGRI INDEX ETF (TSE:COW) were released by: Theglobeandmail.com and their article: “Three top picks from BBSL’s John DeGoey” published on August 17, 2015 as well as Marketwired.com‘s news article titled: “BlackRock(R) Announces Final Annual Reinvested Capital Gains Distributions for …” with publication date: December 24, 2014.
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