The stock of Horizons BetaPro COMEX Silver Bull Plus ETF (TSE:HZU) gapped up by $0.15 today and has $57.82 target or 173.00% above today’s $21.18 share price. The 8 months technical chart setup indicates low risk for the $32.00 million company. The gap was reported on Nov, 8 by Barchart.com. If the $57.82 price target is reached, the company will be worth $55.36M 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 30,295 shares traded hands. Horizons BetaPro COMEX Silver Bull Plus ETF (TSE:HZU) has risen 36.51% since April 1, 2016 and is uptrending. It has outperformed by 34.56% the S&P500.
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