The stock of ISHARES SP GLOBAL WATER IDX ETF (TSE:CWW) gapped down by $0.12 today and has $27.60 target or 4.00% below today’s $28.75 share price. The 5 months technical chart setup indicates high risk for the $94.67M company. The gap down was reported on Dec, 1 by Barchart.com. If the $27.60 price target is reached, the company will be worth $3.79 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 24,788 shares traded hands or 287.80% up from the average. ISHARES SP GLOBAL WATER IDX ETF (TSE:CWW) has risen 3.59% since April 27, 2016 and is uptrending. It has underperformed by 2.33% the S&P500.
More notable recent ISHARES SP GLOBAL WATER IDX ETF (TSE:CWW) news were published by: Theglobeandmail.com which released: “Investing in solutions for the water crisis” on March 20, 2015, also Nasdaq.com with their article: “Mid-Day ETF Update: ETFs, Stocks Higher as U.S. Election Underway” published on November 08, 2016, Theglobeandmail.com published: “Five specialty ETFs give investors room to play” on February 25, 2016. More interesting news about ISHARES SP GLOBAL WATER IDX ETF (TSE:CWW) were released by: Marketwatch.com and their article: “Infrastructure ETFs rally in 2016 as presidential candidates float new policies” published on September 28, 2016 as well as Marketwired.com‘s news article titled: “BlackRock® Canada Announces June Cash Distributions for the iShares® ETFs” with publication date: June 08, 2016.
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