The stock of Horizons AlphaPro Seasonal Rotation ETF (TSE:HAC) gapped down by $0.05 today and has $15.04 target or 13.00% below today’s $17.29 share price. The 5 months technical chart setup indicates high risk for the $172.05 million company. The gap down was reported on Oct, 19 by Barchart.com. If the $15.04 price target is reached, the company will be worth $22.37M 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 12,562 shares traded hands or 50.99% up from the average. Horizons AlphaPro Seasonal Rotation ETF (TSE:HAC) has risen 3.64% since March 14, 2016 and is uptrending. It has underperformed by 1.90% the S&P500.
More notable recent Horizons AlphaPro Seasonal Rotation ETF (TSE:HAC) news were published by: Theglobeandmail.com which released: “Don Vialoux and son promise return after cutting ties with Horizons” on August 18, 2015, also Theglobeandmail.com with their article: “Why the fund I manage has exited 90% of its equities” published on May 05, 2016, Theglobeandmail.com published: “The best ETFs for investing in metals and mining” on March 07, 2011. More interesting news about Horizons AlphaPro Seasonal Rotation ETF (TSE:HAC) were released by: Business.Financialpost.com and their article: “Jonathan Chevreau: Why fund investors should get active with their ETFs” published on September 08, 2015 as well as Theglobeandmail.com‘s news article titled: “Three top picks from Horizons’ Jon Vialoux” with publication date: August 17, 2015.
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