The stock of Horizons BetaPro COMEX Silver Bull Plus ETF (TSE:HZU) gapped down by $0.52 today and has $18.10 target or 12.00% below today’s $20.57 share price. The 6 months technical chart setup indicates high risk for the $33.04 million company. The gap down was reported on Nov, 3 by Barchart.com. If the $18.10 price target is reached, the company will be worth $3.96 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 123,412 shares traded hands or 32.29% up from the average. Horizons BetaPro COMEX Silver Bull Plus ETF (TSE:HZU) has risen 35.42% since March 30, 2016 and is uptrending. It has outperformed by 34.21% the S&P500.
More recent Horizons BetaPro COMEX Silver Bull Plus ETF (TSE:HZU) news were published by: Theglobeandmail.com which released: “Silver’s ‘sweet spot’ for seasonal buying has arrived” on January 02, 2013. Also Seekingalpha.com published the news titled: “No ‘Bull’ About Leveraged Gold Bull ETFs” on November 21, 2012. Business.Financialpost.com‘s news article titled: “ETF closings are just part of the game” with publication date: June 29, 2012 was also an interesting one.
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