The stock of Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) (TSE:HBU) gapped up by $0.09 today and has $22.19 target or 142.00% above today’s $9.17 share price. The 6 months technical chart setup indicates low risk for the $12.87 million company. The gap was reported on Nov, 1 by Barchart.com. If the $22.19 price target is reached, the company will be worth $18.28M 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 22,540 shares traded hands or 47.57% up from the average. Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) (TSE:HBU) has risen 4.39% since March 28, 2016 and is uptrending. It has outperformed by 1.38% 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 $12.87 million. ProFund Advisors LLC has been appointed portfolio manager of the ETF. It currently has negative earnings.
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