What Next for Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) After Today’s Gap Up?

 What Next for Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) After Today's Gap Up?

The stock of Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) (TSE:HBU) gapped up by $0.08 today and has $27.19 target or 193.00% above today’s $9.28 share price. The 8 months technical chart setup indicates low risk for the $13.07M company. The gap was reported on Nov, 2 by Barchart.com. If the $27.19 price target is reached, the company will be worth $25.23 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%. The ETF increased 1.20% or $0.11 on November 2, hitting $9.28. About 22,450 shares traded hands or 38.43% up from the average. Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) (TSE:HBU) has risen 2.34% since March 29, 2016 and is uptrending. It has underperformed by 0.18% 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 $13.07 million. ProFund Advisors LLC has been appointed portfolio manager of the ETF. It currently has negative earnings.

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