The stock of HORIZONS BP COMEX SILVER BEAR PLUS ETF (TSE:HZD) gapped up by $0.14 today and has $9.74 target or 67.00% above today’s $5.83 share price. The 6 months technical chart setup indicates low risk for the $2.68 million company. The gap was reported on Nov, 3 by Barchart.com. If the $9.74 price target is reached, the company will be worth $1.80 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 25,490 shares traded hands. HORIZONS BP COMEX SILVER BEAR PLUS ETF (TSE:HZD) has declined 38.13% since March 30, 2016 and is downtrending. It has underperformed by 39.34% the S&P500.
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