Could HORIZONS NYMEX CRUDE OIL ETF Recover After Today’s Gap Up?

 Could HORIZONS NYMEX CRUDE OIL ETF Recover After Today's Gap Up?

The stock of HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) gapped up by $0.19 today and has $20.23 target or 70.00% above today’s $11.90 share price. The 8 months technical chart setup indicates low risk for the $32.17 million company. The gap was reported on Nov, 21 by Barchart.com. If the $20.23 price target is reached, the company will be worth $22.52M 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 17,180 shares traded hands or 1.32% up from the average. HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) has risen 10.54% since April 15, 2016 and is uptrending. It has outperformed by 6.68% the S&P500.

More news for HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) were recently published by: Theglobeandmail.com, which released: “Two ETFs to help you profit from crude oil’s ‘sweet spot'” on February 10, 2014. Midasletter.com‘s article titled: “Subscribe to Midas Letter Free Edition” and published on February 10, 2016 is yet another important article.

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