What’s Next for HORIZONS NYMEX CRUDE OIL ETF After Today’s Gap Down?

 What's Next for HORIZONS NYMEX CRUDE OIL ETF After Today's Gap Down?

The stock of HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) gapped down by $0.03 today and has $9.92 target or 10.00% below today’s $11.02 share price. The 5 months technical chart setup indicates high risk for the $29.25M company. The gap down was reported on Nov, 14 by Barchart.com. If the $9.92 price target is reached, the company will be worth $2.93M 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 27,811 shares traded hands or 42.47% up from the average. HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) has risen 8.51% since April 8, 2016 and is uptrending. It has outperformed by 3.53% the S&P500.

More recent HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) news were published by: Theglobeandmail.com which released: “Two ETFs to help you profit from crude oil’s ‘sweet spot'” on February 10, 2014. Also Midasletter.com published the news titled: “Subscribe to Midas Letter Free Edition” on February 10, 2016. Seekingalpha.com‘s news article titled: “Crude Oil Is Entering The Sell Zone” with publication date: August 22, 2016 was also an interesting one.

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