After Today’s Gap Up, Is Hori. Beta. NYMEX Nat. Gas Bl. Pl. (ETF)’s Near-Term Analysis Positive

 After Today's Gap Up, Is Hori. Beta. NYMEX Nat. Gas Bl. Pl. (ETF)'s Near Term Analysis Positive

The stock of Hori. Beta. NYMEX Nat. Gas Bl. Pl. (ETF) (TSE:HNU) gapped up by $0.17 today and has $17.42 target or 103.00% above today’s $8.58 share price. The 7 months technical chart setup indicates low risk for the $104.92 million company. The gap was reported on Nov, 14 by Barchart.com. If the $17.42 price target is reached, the company will be worth $108.07M 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 825,333 shares traded hands. Hori. Beta. NYMEX Nat. Gas Bl. Pl. (ETF) (TSE:HNU) has declined 1.34% since April 8, 2016 and is downtrending. It has underperformed by 6.33% the S&P500.

Horizons BetaPro NYMEX Natural Gas Bull Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, to correspond to two times (200%) the daily performance of the New York Mercantile Exchange (NYMEX) natural gas futures contract for the next delivery month. The ETF has a market cap of $104.92 million.

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