The stock of iSHARES SP TSX SMALLCAP INDEX ETF (TSE:XCS) gapped up by $0.06 today and has $17.95 target or 9.00% above today’s $16.47 share price. The 8 months technical chart setup indicates low risk for the $136.50 million company. The gap was reported on Dec, 1 by Barchart.com. If the $17.95 price target is reached, the company will be worth $12.29M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 21,825 shares traded hands or 39.15% up from the average. iSHARES SP TSX SMALLCAP INDEX ETF (TSE:XCS) has risen 11.30% since April 27, 2016 and is uptrending. It has outperformed by 5.38% the S&P500.
More recent iSHARES SP TSX SMALLCAP INDEX ETF (TSE:XCS) news were published by: Theglobeandmail.com which released: “Five ETFs to capture the ‘small-cap effect'” on December 19, 2014. Also Marketwired.com published the news titled: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” on September 07, 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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