Could Hori. Beta. NYMEX Nat. Gas Bl. Pl. (ETF) Recover After Today’s Gap Down?

 Could Hori. Beta. NYMEX Nat. Gas Bl. Pl. (ETF) Recover After Today's Gap Down?

The stock of Hori. Beta. NYMEX Nat. Gas Bl. Pl. (ETF) (TSE:HNU) gapped down by $0.42 today and has $6.93 target or 14.00% below today’s $8.06 share price. The 5 months technical chart setup indicates high risk for the $107.02M company. The gap down was reported on Nov, 8 by If the $6.93 price target is reached, the company will be worth $14.98 million 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 1.55 million shares traded hands. Hori. Beta. NYMEX Nat. Gas Bl. Pl. (ETF) (TSE:HNU) has risen 10.59% since April 1, 2016 and is uptrending. It has outperformed by 8.64% the S&P500.

Horizons BetaPro NYMEX Natural Gas Bull Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, to correspond to two times (200%) the daily performance of the New York Mercantile Exchange (NYMEX) natural gas futures contract for the next delivery month. The ETF has a market cap of $107.02 million.

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