The stock of Horizons BetaPro Nasdaq 100 Bull Plus ETF (TSE:HQU) gapped up by $0.52 today and has $63.55 target or 93.00% above today’s $32.93 share price. The 7 months technical chart setup indicates low risk for the $22.19 million company. The gap was reported on Oct, 18 by Barchart.com. If the $63.55 price target is reached, the company will be worth $20.64 million 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 14,108 shares traded hands. Horizons BetaPro Nasdaq 100 Bull Plus ETF (TSE:HQU) has risen 18.93% since March 11, 2016 and is uptrending. It has outperformed by 13.45% the S&P500.
Another recent and important Horizons BetaPro Nasdaq 100 Bull Plus ETF (TSE:HQU) news was published by Stockhouse.com which published an article titled: “Why short an ETF? Buy inverse instead” on December 16, 2011.
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