What’s Propelling POWERSHARES SR LOAN CAD HDG INDEX ETF to Increase So Much? The Stock Gaps Up Today

 What's Propelling POWERSHARES SR LOAN CAD HDG INDEX ETF to Increase So Much? The Stock Gaps Up Today

The stock of POWERSHARES SR LOAN CAD HDG INDEX ETF (TSE:BKL) gapped up by $0.01 today and has $20.66 target or 8.00% above today’s $19.13 share price. The 5 months technical chart setup indicates low risk for the $53.04 million company. The gap was reported on Dec, 1 by Barchart.com. If the $20.66 price target is reached, the company will be worth $4.24M 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 17,491 shares traded hands or 238.91% up from the average. POWERSHARES SR LOAN CAD HDG INDEX ETF (TSE:BKL) has risen 0.32% since April 27, 2016 and is uptrending. It has underperformed by 5.61% the S&P500.

Another recent and important POWERSHARES SR LOAN CAD HDG INDEX ETF (TSE:BKL) news was published by Theglobeandmail.com which published an article titled: “Eye on Shorts: What bearish investors are betting against” on March 21, 2016.

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