After Today’s Gap Up, Is Horizons US Dollar Currency ETF’s Near-Term Analysis Positive

 After Today's Gap Up, Is Horizons US Dollar Currency ETF's Near Term Analysis Positive

The stock of Horizons US Dollar Currency ETF (TSE:DLR) gapped up by $0.02 today and has $33.89 target or 152.00% above today’s $13.45 share price. The 5 months technical chart setup indicates low risk for the $88.25 million company. The gap was reported on Nov, 11 by Barchart.com. If the $33.89 price target is reached, the company will be worth $134.14M 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 59,994 shares traded hands. Horizons US Dollar Currency ETF (TSE:DLR) has risen 2.52% since April 7, 2016 and is uptrending. It has underperformed by 3.62% 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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