Is Buying Stock Like Horiz. BetaPro S&P TSX 60 Bull Pl (ETF) After Such Gap Up a Winning Strategy?

 Is Buying Stock Like Horiz. BetaPro S&P TSX 60 Bull Pl (ETF) After Such Gap Up a Winning Strategy?

The stock of Horiz. BetaPro S&P TSX 60 Bull Pl (ETF) (TSE:HXU) gapped up by $0.05 today and has $57.23 target or 96.00% above today’s $29.20 share price. The 9 months technical chart setup indicates low risk for the $50.36M company. The gap was reported on Nov, 15 by Barchart.com. If the $57.23 price target is reached, the company will be worth $48.35 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 35,592 shares traded hands. Horiz. BetaPro S&P TSX 60 Bull Pl (ETF) (TSE:HXU) has risen 21.39% since April 11, 2016 and is uptrending. It has outperformed by 17.47% the S&P500.

More news for Horiz. BetaPro S&P TSX 60 Bull Pl (ETF) (TSE:HXU) were recently published by: Midasletter.com, which released: “S&P/TSX Composite, S&P 500: Top Trades in Crisis Markets – Horizons BetaPro ETFs” on January 20, 2016. Bnn.ca‘s article titled: “Keith Richards’ Top Picks: August 24, 2016” and published on August 24, 2016 is yet another important article.

Horizons BetaPro S&P/TSX 60 Bull Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to two times (200%) the daily performance of the S&P/TSX 60 Index. The ETF has a market cap of $50.36 million. In order to achieve its objective, the total underlying notional value of these instruments and/or securities will typically not exceed two times the total assets of the ETF. It currently has negative earnings. Assets not invested in financial instruments or equity securities may be invested in debt instruments or money market instruments with a term not to exceed 365 days, or reverse repurchase agreements with a term not to exceed 30 days.

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