The stock of Horizons Natural Gas Yield ETF (TSE:HNY) gapped up by $0.25 today and has $30.18 target or 106.00% above today’s $14.65 share price. The 6 months technical chart setup indicates low risk for the $9.52 million company. The gap was reported on Nov, 21 by Barchart.com. If the $30.18 price target is reached, the company will be worth $10.09 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 20,891 shares traded hands or 399.78% up from the average. Horizons Natural Gas Yield ETF (TSE:HNY) has risen 1.42% since April 15, 2016 and is uptrending. It has underperformed by 2.44% the S&P500.
More notable recent Horizons Natural Gas Yield ETF (TSE:HNY) news were published by: Theglobeandmail.com which released: “The case against covered call ETFs” on May 23, 2014, also Theglobeandmail.com with their article: “Eye on Shorts: What bearish investors are betting against” published on December 03, 2015, Seekingalpha.com published: “U.S. Natural Gas Production: Modeled Outlook” on September 29, 2016. More interesting news about Horizons Natural Gas Yield ETF (TSE:HNY) were released by: Seekingalpha.com and their article: “Natural Gas Futures Prices Breaking Out” published on June 06, 2016 as well as Seekingalpha.com‘s news article titled: “The Speculative Action Driving The Climb In Natural Gas” with publication date: June 12, 2016.
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