The stock of Horizons Enhanced Income International Equity ETF (TSE:HEJ) gapped down by $0.05 today and has $5.28 target or 12.00% below today’s $6.00 share price. The 5 months technical chart setup indicates high risk for the $10.58 million company. The gap down was reported on Nov, 18 by Barchart.com. If the $5.28 price target is reached, the company will be worth $1.27 million 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 12,932 shares traded hands or 232.53% up from the average. Horizons Enhanced Income International Equity ETF (TSE:HEJ) has declined 1.14% since April 14, 2016 and is downtrending. It has underperformed by 5.57% the S&P500.
More notable recent Horizons Enhanced Income International Equity ETF (TSE:HEJ) news were published by: Marketwatch.com which released: “Horizons announces July 2016 distributions for its covered call ETFs” on July 21, 2016, also Theglobeandmail.com with their article: “The case against covered call ETFs” published on May 23, 2014, Marketwatch.com published: “Horizons Announces October 2016 Distributions for its Covered Call ETFs” on October 21, 2016. More interesting news about Horizons Enhanced Income International Equity ETF (TSE:HEJ) were released by: Wsj.com and their article: “Active Equity ETFs Make Their Case” published on July 05, 2016 as well as Etftrends.com‘s news article titled: “BlackRock’s iShares to Liquidate 10 ETFs” with publication date: June 27, 2016.
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