The stock of HORIZONS ENHANCED INCOME EQUITY ETF (TSE:HEX) gapped up by $0.01 today and has $12.71 target or 88.00% above today’s $6.76 share price. The 8 months technical chart setup indicates low risk for the $59.41 million company. The gap was reported on Oct, 19 by Barchart.com. If the $12.71 price target is reached, the company will be worth $52.28 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 19,771 shares traded hands or 160.83% up from the average. HORIZONS ENHANCED INCOME EQUITY ETF (TSE:HEX) has risen 8.75% since March 14, 2016 and is uptrending. It has outperformed by 3.21% the S&P500.
More important recent HORIZONS ENHANCED INCOME EQUITY ETF (TSE:HEX) news were published by: Marketwatch.com which released: “Horizons announces July 2016 distributions for its covered call ETFs” on July 21, 2016, also Marketwatch.com published article titled: “Horizons Announces August 2016 Distributions for its Covered Call ETFs”, Theglobeandmail.com published: “The case against covered call ETFs” on May 23, 2014. More interesting news about HORIZONS ENHANCED INCOME EQUITY ETF (TSE:HEX) was released by: Marketwatch.com and their article: “Horizons Announces September 2016 Distributions for its Covered Call ETFs” with publication date: September 22, 2016.
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