The stock of Horizons BetaPro S&P TSX 60 Index ETF (TSE:HXT) gapped up by $0.02 today and has $30.98 target or 3.00% above today’s $30.08 share price. The 9 months technical chart setup indicates low risk for the $966.93 million company. The gap was reported on Nov, 22 by Barchart.com. If the $30.98 price target is reached, the company will be worth $29.01M 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 198,531 shares traded hands. Horizons BetaPro S&P TSX 60 Index ETF (TSE:HXT) has risen 12.46% since April 18, 2016 and is uptrending. It has outperformed by 7.91% the S&P500.
More notable recent Horizons BetaPro S&P TSX 60 Index ETF (TSE:HXT) news were published by: Fool.ca which released: “Here’s How to Invest in the S&P/TSX Composite â€” And Why You May Not Want To” on July 24, 2013, also Theglobeandmail.com with their article: “ETFs you should get to know – and those to avoid” published on August 24, 2012, Midasletter.com published: “Subscribe to Midas Letter Free Edition” on February 10, 2016. More interesting news about Horizons BetaPro S&P TSX 60 Index ETF (TSE:HXT) were released by: Theglobeandmail.com and their article: “This teacher switched from dividends to capital gains” published on April 22, 2016 as well as Midasletter.com‘s news article titled: “S&P/TSX Composite, S&P 500: Top Trades in Crisis Markets â€“ Horizons BetaPro ETFs” with publication date: January 20, 2016.
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