The stock of HORIZONS ENHANCED INCOME GOLD PROD ETF (TSE:HEP) gapped down by $0.19 today and has $21.37 target or 14.00% below today’s $24.85 share price. The 6 months technical chart setup indicates high risk for the $37.81 million company. The gap down was reported on Nov, 11 by Barchart.com. If the $21.37 price target is reached, the company will be worth $5.29 million 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 10,153 shares traded hands or 23.28% up from the average. HORIZONS ENHANCED INCOME GOLD PROD ETF (TSE:HEP) has risen 0.57% since April 7, 2016 and is uptrending. It has underperformed by 5.57% the S&P500.
Another recent and important HORIZONS ENHANCED INCOME GOLD PROD ETF (TSE:HEP) news was published by Seekingalpha.com which published an article titled: “Using The Chowder Number To Select Dividend Growth Stocks From 1995-2014” on October 21, 2015.
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