ISHARES GOLD BULLION ETF HDG Gaps Down Today, Is Now One of The Worst Performers

 ISHARES GOLD BULLION ETF HDG Gaps Down Today, Is Now One of The Worst Performers

The stock of ISHARES GOLD BULLION ETF HDG (TSE:CGL) gapped down by $0.02 today and has $9.81 target or 4.00% below today’s $10.22 share price. The 8 months technical chart setup indicates high risk for the $312.62M company. The gap down was reported on Dec, 1 by Barchart.com. If the $9.81 price target is reached, the company will be worth $12.50M 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 43,642 shares traded hands. ISHARES GOLD BULLION ETF HDG (TSE:CGL) has declined 6.65% since April 27, 2016 and is downtrending. It has underperformed by 12.57% the S&P500.

Another recent and important ISHARES GOLD BULLION ETF HDG (TSE:CGL) news was published by Theglobeandmail.com which published an article titled: “The Globe and Mail” on July 11, 2010.

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