The stock of HORIZONS ENHANCED INCOME GOLD PROD ETF (TSE:HEP) gapped up by $0.31 today and has $67.90 target or 139.00% above today’s $28.41 share price. The 5 months technical chart setup indicates low risk for the $39.25 million company. The gap was reported on Nov, 9 by Barchart.com. If the $67.90 price target is reached, the company will be worth $54.56M 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 24,480 shares traded hands or 246.55% up from the average. HORIZONS ENHANCED INCOME GOLD PROD ETF (TSE:HEP) has risen 9.63% since April 5, 2016 and is uptrending. It has outperformed by 4.84% the S&P500.
More news for HORIZONS ENHANCED INCOME GOLD PROD ETF (TSE:HEP) were recently published by: Etftrends.com, which released: “Direxion Adds New ETFs, Reverse Splits 4 ETFs, Forward Splits 5 ETFs” on July 27, 2016. Seekingalpha.com‘s article titled: “Using The Chowder Number To Select Dividend Growth Stocks From 1995-2014” and published on October 21, 2015 is yet another important article.
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