Time to Buy Horizons US Dollar Currency ETF After Today’s Gap Up?

 Time to Buy Horizons US Dollar Currency ETF After Today's Gap Up?

The stock of Horizons US Dollar Currency ETF (TSE:DLR) gapped up by $0.03 today and has $32.98 target or 148.00% above today’s $13.30 share price. The 5 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 $32.98 price target is reached, the company will be worth $128.95M 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 151,435 shares traded hands or 60.25% 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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