The stock of Horizons US Dollar Currency ETF (TSE:DLR) gapped up by $0.02 today and has $20.93 target or 57.00% above today’s $13.33 share price. The 5 months technical chart setup indicates low risk for the $87.26 million company. The gap was reported on Nov, 4 by Barchart.com. If the $20.93 price target is reached, the company will be worth $49.74M 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 74,945 shares traded hands. Horizons US Dollar Currency ETF (TSE:DLR) has risen 2.94% since March 31, 2016 and is uptrending. It has outperformed by 1.85% the S&P500.
More news for Horizons US Dollar Currency ETF (TSE:DLR) were recently published by: Marketwatch.com, which released: “Horizons ETFs Launches Two New Currency Hedged ETFs” on September 20, 2016. Theglobeandmail.com‘s article titled: “What market behaviour is telling us about the post-Brexit world” and published on July 10, 2016 is yet another important article.
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