iShares Intermediate-Term Corp Bd ETF (IGIB)’s Stock Formed A Several Months Double Bottom Chart Pattern

October 2, 2018 - By Adrian Erickson

The chart of iShares Intermediate-Term Corp Bd ETF (IGIB) shows a double bottom with $50.28 target or 5.00 % below today’s $52.93 share price. The 6 months chart pattern indicates high risk for the $5.87B company. It was reported on Oct, 2 by Finviz.com. If the $50.28 price target is reached, the company will be worth $293.50M less. Double bottoms are rare but powerful chart patterns.

The ETF increased 0.13% or $0.07 during the last trading session, reaching $52.93. About 198,520 shares traded. iShares Intermediate-Term Corp Bd ETF (NASDAQ:IGIB) has declined 3.62% since October 2, 2017 and is downtrending. It has underperformed by 19.24% the S&P500.

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