Could HORIZONS MANAGED MA MOMENTUM ETF Change Direction After Today’s Gap Down?

 Could HORIZONS MANAGED MA MOMENTUM ETF Change Direction After Today's Gap Down?

The stock of HORIZONS MANAGED MA MOMENTUM ETF (TSE:HMA) gapped down by $0.09 today and has $8.19 target or 13.00% below today’s $9.41 share price. The 8 months technical chart setup indicates high risk for the $7.50 million company. The gap down was reported on Nov, 4 by Barchart.com. If the $8.19 price target is reached, the company will be worth $975,000 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 73,540 shares traded hands or 10635.77% up from the average. HORIZONS MANAGED MA MOMENTUM ETF (TSE:HMA) has risen 1.71% since March 31, 2016 and is uptrending. It has outperformed by 0.62% the S&P500.

More notable recent HORIZONS MANAGED MA MOMENTUM ETF (TSE:HMA) news were published by: Reuters.com which released: “Does your mutual fund invest in stocks of gun and ammo makers?” on February 05, 2016, also Seekingalpha.com with their article: “Mimic Hedge Fund Returns With These ETFs and Mutual Funds” published on December 14, 2010, Zacks.com published: “Xerox to Accelerate Adoption of Process Automation Tools” on June 01, 2015. More interesting news about HORIZONS MANAGED MA MOMENTUM ETF (TSE:HMA) were released by: Zacks.com and their article: “Does it quot;Suitquot; Vanguard to be Under Fire for Charging Less?” published on December 11, 2015 as well as Barrons.com‘s news article titled: “5 Dividend-Rich Stocks to Hold for the Long Term” with publication date: August 23, 2016.

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