Is Major Move Coming For HORIZONS NYMEX CRUDE OIL ETF After This Gap Up?

 Is Major Move Coming For HORIZONS NYMEX CRUDE OIL ETF After This Gap Up?

The stock of HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) gapped up by $0.12 today and has $17.28 target or 38.00% above today’s $12.52 share price. The 8 months technical chart setup indicates low risk for the $32.47M company. The gap was reported on Oct, 19 by Barchart.com. If the $17.28 price target is reached, the company will be worth $12.34 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 16,679 shares traded hands. HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) has risen 21.88% since March 14, 2016 and is uptrending. It has outperformed by 16.34% the S&P500.

More important recent HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) news were published by: Theglobeandmail.com which released: “Two ETFs to help you profit from crude oil’s ‘sweet spot'” on February 10, 2014, also Midasletter.com published article titled: “Subscribe to Midas Letter Free Edition”, Seekingalpha.com published: “Crude Oil Is Entering The Sell Zone” on August 22, 2016. More interesting news about HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) was released by: Seekingalpha.com and their article: “Crude Oil Rejects $50” with publication date: August 29, 2016.

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