Could Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) See a Reversal After Having a Gap Up Today?

 Could Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) See a Reversal After Having a Gap Up Today?

The stock of Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) (TSE:HOD) gapped up by $0.13 today and has $23.07 target or 90.00% above today’s $12.14 share price. The 6 months technical chart setup indicates low risk for the $101.38M company. The gap was reported on Oct, 31 by If the $23.07 price target is reached, the company will be worth $91.24M 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 1.87M shares traded hands. Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) (TSE:HOD) has declined 35.57% since March 24, 2016 and is downtrending. It has underperformed by 39.04% the S&P500.

Another recent and important Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) (TSE:HOD) news was published by which published an article titled: “Bear Market: This Is How to Save Yourself from Negative Interest Rates” on February 17, 2016.

Horizons BetaPro NYMEX Crude Oil Bear Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that correspond to two times (200%) the inverse (opposite) of the daily performance of the New York Mercantile Exchange (NYMEX) light sweet crude oil futures contract for the next delivery month. The ETF has a market cap of $101.38 million. The Fund is managed by BetaPro Management Inc. It currently has negative earnings. ProFund Advisors LLC is the portfolio manager of the Fund.

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