Some Traders Are Very Bullish on iShares S&P TSX Capped Energy Index Fund After Today’s Gap Up

 Some Traders Are Very Bullish on iShares S&P TSX Capped Energy Index Fund After Today's Gap Up

The stock of iShares S&P TSX Capped Energy Index Fund (TSE:XEG) gapped up by $0.07 today and has $15.04 target or 4.00% above today’s $14.46 share price. The 5 months technical chart setup indicates low risk for the $1.14B company. The gap was reported on Dec, 1 by Barchart.com. If the $15.04 price target is reached, the company will be worth $45.60M 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 576,486 shares traded hands. iShares S&P TSX Capped Energy Index Fund (TSE:XEG) has risen 17.75% since April 27, 2016 and is uptrending. It has outperformed by 11.82% the S&P500.

More important recent iShares S&P TSX Capped Energy Index Fund (TSE:XEG) news were published by: Fool.ca which released: “The Best ETF to Play Oil’s Continuing Volatility” on August 29, 2016, also Theglobeandmail.com published article titled: “ETFs to ride the Canadian energy sector roller coaster”, Marketwired.com published: “BlackRock(R) Canada Announces September Cash Distributions for the iShares(R) ETFs” on September 07, 2016. More interesting news about iShares S&P TSX Capped Energy Index Fund (TSE:XEG) was released by: Theglobeandmail.com and their article: “ETFs you should get to know – and those to avoid” with publication date: August 24, 2012.

iShares S&P/TSX Capped Energy Index Fund, formerly iShares CDN S&P/TSX Capped Energy Index Fund, seeks to provide long-term capital growth by replicating, to the extent possible, the performance of the S&P/TSX Capped Energy Index through investments in the constituent issuers of such index. The company has a market cap of $1.14 billion. The Index consists of securities of Canadian energy sector issuers listed on the TSX, selected by Standard & Poor’s (S&P) using its industrial classifications and guidelines for evaluating issuer capitalization, liquidity and fundamentals. It currently has negative earnings. The Index includes stocks belonging to the S&P/TSX Energy industry sector classification, with the weight of any one firm capped at 25% of the market capitalization of the Index.

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