What’s Next for CANADIAN CRUDE OIL INDEX ETF After Today’s Gap Up?

 What's Next for CANADIAN CRUDE OIL INDEX ETF After Today's Gap Up?

The stock of CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) gapped up by $0.1 today and has $8.69 target or 3.00% above today’s $8.44 share price. The 7 months technical chart setup indicates low risk for the $15.80 million company. The gap was reported on Dec, 1 by Barchart.com. If the $8.69 price target is reached, the company will be worth $474,000 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 36,030 shares traded hands or 99.97% up from the average. CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) has declined 0.88% since May 2, 2016 and is downtrending. It has underperformed by 6.80% the S&P500.

More important recent CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) news were published by: Theglobeandmail.com which released: “New ETF to track Canadian crude oil pricing” on May 10, 2015, also Prnewswire.com published article titled: “USCF Announces Collaboration On Canadian Crude Oil ETF With Auspice Capital …”, Business.Financialpost.com published: “Shedding light on domestic oil prices: New ETF will track Western Canadian …” on May 04, 2015. More interesting news about CANADIAN CRUDE OIL INDEX ETF (TSE:CCX) was released by: Business.Financialpost.com and their article: “Take two: Is investing in commodities worth the effort and hand-wringing?” with publication date: April 18, 2016.

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