Is Buying Stock Like Horizons US Dollar Currency ETF After Such Gap Up a Winning Strategy?

 Is Buying Stock Like Horizons US Dollar Currency ETF After Such Gap Up a Winning Strategy?

The stock of Horizons US Dollar Currency ETF (TSE:DLR) gapped up by $0.03 today and has $20.96 target or 57.00% above today’s $13.35 share price. The 8 months technical chart setup indicates low risk for the $87.13 million company. The gap was reported on Nov, 9 by Barchart.com. If the $20.96 price target is reached, the company will be worth $49.66M 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 116,780 shares traded hands or 23.58% up from the average. Horizons US Dollar Currency ETF (TSE:DLR) has risen 1.07% since April 5, 2016 and is uptrending. It has underperformed by 3.71% the S&P500.

More news for Horizons US Dollar Currency ETF (TSE:DLR) were recently published by: Marketwatch.com, which released: “Horizons ETFs Launches Two New Currency Hedged ETFs” on September 20, 2016. Theglobeandmail.com‘s article titled: “Top three ETF picks from Shaunessy Investment’s Terry Shaunessy” and published on March 15, 2016 is yet another important article.

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