Traders Are Bearish Horizons BetaPro COMEX Silver Bull Plus ETF After Today’s Gap Down

 Traders Are Bearish Horizons BetaPro COMEX Silver Bull Plus ETF After Today's Gap Down

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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