Is Hor. Beta. S&P TSX Cap. En. Bull (ETF)’s Fuel Running High? The Stock Just Gapped Up

 Is Hor. Beta. S&P TSX Cap. En. Bull (ETF)'s Fuel Running High? The Stock Just Gapped Up

The stock of Hor. Beta. S&P TSX Cap. En. Bull (ETF) (TSE:HEU) gapped up by $0.16 today and has $29.90 target or 132.00% above today’s $12.89 share price. The 6 months technical chart setup indicates low risk for the $18.60 million company. The gap was reported on Nov, 21 by If the $29.90 price target is reached, the company will be worth $24.55M 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 95,396 shares traded hands or 21.46% up from the average. Hor. Beta. S&P TSX Cap. En. Bull (ETF) (TSE:HEU) has risen 40.09% since April 15, 2016 and is uptrending. It has outperformed by 36.23% 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 $18.60 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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