Could HORIZONS BP COMEX SILVER BEAR PLUS ETF See a Reversal After Having a Gap Up Today?

 Could HORIZONS BP COMEX SILVER BEAR PLUS ETF See a Reversal After Having a Gap Up Today?

The stock of HORIZONS BP COMEX SILVER BEAR PLUS ETF (TSE:HZD) gapped up by $0.09 today and has $10.99 target or 86.00% above today’s $5.91 share price. The 7 months technical chart setup indicates low risk for the $2.86 million company. The gap was reported on Nov, 7 by Barchart.com. If the $10.99 price target is reached, the company will be worth $2.46 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 58,050 shares traded hands or 118.91% up from the average. HORIZONS BP COMEX SILVER BEAR PLUS ETF (TSE:HZD) has declined 38.46% since April 1, 2016 and is downtrending. It has underperformed by 40.42% the S&P500.

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