The stock of Horizons BetaPro S&P TSX 60 Index ETF (TSE:HXT) gapped up by $0.03 today and has $41.92 target or 44.00% above today’s $29.11 share price. The 7 months technical chart setup indicates low risk for the $803.71M company. The gap was reported on Nov, 15 by Barchart.com. If the $41.92 price target is reached, the company will be worth $353.63 million 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 22,755 shares traded hands. Horizons BetaPro S&P TSX 60 Index ETF (TSE:HXT) has risen 11.52% since April 11, 2016 and is uptrending. It has outperformed by 7.59% the S&P500.
More notable recent Horizons BetaPro S&P TSX 60 Index ETF (TSE:HXT) news were published by: Fool.ca which released: “Here’s How to Invest in the S&P/TSX Composite â€” And Why You May Not Want To” on July 24, 2013, also Theglobeandmail.com with their article: “ETFs you should get to know – and those to avoid” published on August 24, 2012, Midasletter.com published: “Subscribe to Midas Letter Free Edition” on February 10, 2016. More interesting news about Horizons BetaPro S&P TSX 60 Index ETF (TSE:HXT) were released by: Theglobeandmail.com and their article: “This teacher switched from dividends to capital gains” published on April 22, 2016 as well as Theglobeandmail.com‘s news article titled: “If $10000 fell into your lap, what would you do?” with publication date: September 01, 2016.
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