Time to Sell Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) After Today’s Gap Down?

 Time to Sell Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) After Today's Gap Down?

The stock of Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) (TSE:HBU) gapped down by $0.2 today and has $7.76 target or 14.00% below today’s $9.02 share price. The 6 months technical chart setup indicates high risk for the $13.84M company. The gap down was reported on Nov, 7 by Barchart.com. If the $7.76 price target is reached, the company will be worth $1.94M 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 10,260 shares traded hands. Hori. Beta. COMEX Gd. Bln. Bl. Pl. (ETF) (TSE:HBU) has risen 8.69% since April 1, 2016 and is uptrending. It has outperformed by 6.73% the S&P500.

Horizons BetaPro COMEX Gold Bullion Bull Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to two times (200%) the daily performance of the COMEX Gold Bullion Index. The ETF has a market cap of $13.84 million. ProFund Advisors LLC has been appointed portfolio manager of the ETF. It currently has negative earnings.

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