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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