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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