Could Horizons BetaPro COMEX Silver Bull Plus ETF Crash Even More? The Stock Just Had a Gap Down

 Could Horizons BetaPro COMEX Silver Bull Plus ETF Crash Even More? The Stock Just Had a Gap Down

The stock of Horizons BetaPro COMEX Silver Bull Plus ETF (TSE:HZU) gapped down by $0.02 today and has $16.34 target or 14.00% below today’s $19.00 share price. The 9 months technical chart setup indicates high risk for the $33.01 million company. The gap down was reported on Nov, 11 by Barchart.com. If the $16.34 price target is reached, the company will be worth $4.62M 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 225,977 shares traded hands or 169.57% up from the average. Horizons BetaPro COMEX Silver Bull Plus ETF (TSE:HZU) has risen 35.55% since April 7, 2016 and is uptrending. It has outperformed by 29.41% the S&P500.

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