The stock of Claymore 1-5 Yr Laddered Corporation Bond Exchange Traded Fund (TSE:CBO) gapped down by $0.01 today and has $17.79 target or 6.00% below today’s $18.93 share price. The 9 months technical chart setup indicates high risk for the $1.99B company. The gap down was reported on Dec, 1 by Barchart.com. If the $17.79 price target is reached, the company will be worth $119.40 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 95,026 shares traded hands or 18.05% up from the average. Claymore 1-5 Yr Laddered Corporation Bond Exchange Traded Fund (TSE:CBO) has declined 0.58% since April 27, 2016 and is downtrending. It has underperformed by 6.50% the S&P500.
More notable recent Claymore 1-5 Yr Laddered Corporation Bond Exchange Traded Fund (TSE:CBO) news were published by: Theglobeandmail.com which released: “Look to ETFs to hedge against rising rates” on February 11, 2011, also Theglobeandmail.com with their article: “Commission-free ETFs: A big boost for small investors” published on November 19, 2011, Business.Financialpost.com published: “BlackRock dominates in Canadian ETFs” on January 16, 2012. More interesting news about Claymore 1-5 Yr Laddered Corporation Bond Exchange Traded Fund (TSE:CBO) were released by: Theglobeandmail.com and their article: “An early bird that built a comfortable nest” published on February 10, 2012 as well as Theglobeandmail.com‘s news article titled: “In praise of a much maligned investment” with publication date: January 15, 2010.
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