The stock of Horizons Active Floating Rate Senior Loan ETF (TSE:HSL) gapped down by $0.05 today and has $8.45 target or 14.00% below today’s $9.83 share price. The 7 months technical chart setup indicates high risk for the $47.27M company. The gap down was reported on Nov, 9 by Barchart.com. If the $8.45 price target is reached, the company will be worth $6.62M 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 13,776 shares traded hands or 225.29% up from the average. Horizons Active Floating Rate Senior Loan ETF (TSE:HSL) has risen 1.02% since April 5, 2016 and is uptrending. It has underperformed by 3.76% the S&P500.
More notable recent Horizons Active Floating Rate Senior Loan ETF (TSE:HSL) news were published by: Marketwatch.com which released: “Horizons Announces September 2016 Distributions for Certain ETFs” on September 21, 2016, also Marketwatch.com with their article: “Horizons ETFs Launches Actively Managed Senior Loan ETF” published on October 14, 2014, Etftrends.com published: “Bank Loan ETFs: Active or Passive?” on June 26, 2013. More interesting news about Horizons Active Floating Rate Senior Loan ETF (TSE:HSL) were released by: Etftrends.com and their article: “Energy and Interest Rates: Two Reasons to Consider Bank Loans” published on April 01, 2015 as well as Etftrends.com‘s news article titled: “Highland Capital Management Expanding Its ETF Presence” with publication date: January 27, 2015.
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