What Will Happen to HorizonsBetaProNYMEXNaturalGas Next? The Stock Just Gapped Down

 What Will Happen to HorizonsBetaProNYMEXNaturalGas Next? The Stock Just Gapped Down

The stock of HorizonsBetaProNYMEXNaturalGas (TSE:HND) gapped down by $0.43 today and has $12.99 target or 11.00% below today’s $14.60 share price. The 6 months technical chart setup indicates high risk for the $29.99M company. The gap down was reported on Nov, 18 by Barchart.com. If the $12.99 price target is reached, the company will be worth $3.30 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 151,860 shares traded hands. HorizonsBetaProNYMEXNaturalGas (TSE:HND) has declined 36.41% since April 14, 2016 and is downtrending. It has underperformed by 40.84% the S&P500.

Horizons BetaPro NYMEX Natural Gas Bear Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that correspond to two times (200%) the inverse (opposite) of the daily performance of the New York Mercantile Exchange (NYMEX) natural gas futures contract for the next delivery month. The company has a market cap of $29.99 million. The Fund is managed by BetaPro Management Inc. It currently has negative earnings. ProFund Advisors LLC is the portfolio manager of the Fund.

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