The stock of Horizons BetaPro Nasdaq 100 Bull Plus ETF (TSE:HQU) gapped up by $0.42 today and has $70.46 target or 122.00% above today’s $31.74 share price. The 8 months technical chart setup indicates low risk for the $19.42M company. The gap was reported on Nov, 7 by Barchart.com. If the $70.46 price target is reached, the company will be worth $23.69M 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 10,247 shares traded hands. Horizons BetaPro Nasdaq 100 Bull Plus ETF (TSE:HQU) has risen 4.33% since April 1, 2016 and is uptrending. It has outperformed by 2.38% the S&P500.
Another recent and important Horizons BetaPro Nasdaq 100 Bull Plus ETF (TSE:HQU) news was published by Theglobeandmail.com which published an article titled: “The top Canadian ETF needs tech to stay relevant” on February 08, 2013.
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