The stock of Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) (TSE:HBU) gapped up by $0.09 today and has $19.94 target or 123.00% above today’s $8.94 share price. The 5 months technical chart setup indicates low risk for the $12.35 million company. The gap was reported on Oct, 19 by Barchart.com. If the $19.94 price target is reached, the company will be worth $15.19 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 13,010 shares traded hands or 40.42% up from the average. Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) (TSE:HBU) has declined 0.56% since March 14, 2016 and is downtrending. It has underperformed by 6.11% the S&P500.
Horizons BetaPro COMEX Gold Bullion Bull Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to two times (200%) the daily performance of the COMEX Gold Bullion Index. The ETF has a market cap of $12.35 million. ProFund Advisors LLC has been appointed portfolio manager of the ETF. It currently has negative earnings.
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