Traders Are Bullish Hor. Beta. S&P TSX Cap. En. Bull (ETF) After Today’s Gap Up

 Traders Are Bullish Hor. Beta. S&P TSX Cap. En. Bull (ETF) After Today's Gap Up

The stock of Hor. Beta. S&P TSX Cap. En. Bull (ETF) (TSE:HEU) gapped up by $0.29 today and has $25.64 target or 114.00% above today’s $11.98 share price. The 7 months technical chart setup indicates low risk for the $17.29M company. The gap was reported on Nov, 15 by Barchart.com. If the $25.64 price target is reached, the company will be worth $19.71M 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 43,630 shares traded hands. Hor. Beta. S&P TSX Cap. En. Bull (ETF) (TSE:HEU) has risen 34.68% since April 11, 2016 and is uptrending. It has outperformed by 30.76% the S&P500.

Horizons BetaPro S&P/TSX Capped Energy Bull Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavor to correspond to two times (200%) the daily performance of the S&P/TSX Capped Energy Index. The ETF has a market cap of $17.29 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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