Is Major Move Coming For Horizons Active Floating Rate Senior Loan ETF After This Gap Down?

 Is Major Move Coming For Horizons Active Floating Rate Senior Loan ETF After This Gap Down?

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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