The stock of Horizons BetaPro Nasdaq 100 Bear Plus ETF (TSE:HQD) gapped down by $0.21 today and has $15.06 target or 12.00% below today’s $17.11 share price. The 9 months technical chart setup indicates high risk for the $10.77 million company. The gap down was reported on Oct, 18 by Barchart.com. If the $15.06 price target is reached, the company will be worth $1.29 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 16,430 shares traded hands. Horizons BetaPro Nasdaq 100 Bear Plus ETF (TSE:HQD) has declined 21.07% since March 11, 2016 and is downtrending. It has underperformed by 26.55% the S&P500.
More important recent Horizons BetaPro Nasdaq 100 Bear Plus ETF (TSE:HQD) news were published by: Stockhouse.com which released: “MicroCap Report: Sirius XM (T.XSR) to buy back, Pacific Rubiales (T.PRE) sinks …” on January 15, 2016, also Nasdaq.com published article titled: “5 Ways To Play The Oil Price Plunge”, Business.Financialpost.com published: “What’s in your ETF?” on November 11, 2011. More interesting news about Horizons BetaPro Nasdaq 100 Bear Plus ETF (TSE:HQD) was released by: Stockhouse.com and their article: “Why short an ETF? Buy inverse instead” with publication date: December 16, 2011.
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