The stock of Horizons BetaPro Nasdaq 100 Bear Plus ETF (TSE:HQD) gapped up by $0.09 today and has $17.69 target or 4.00% above today’s $17.01 share price. The 9 months technical chart setup indicates low risk for the $9.04M company. The gap was reported on Nov, 23 by Barchart.com. If the $17.69 price target is reached, the company will be worth $361,600 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 33,200 shares traded hands. Horizons BetaPro Nasdaq 100 Bear Plus ETF (TSE:HQD) has declined 17.64% since April 19, 2016 and is downtrending. It has underperformed by 22.97% the S&P500.
Another recent and important Horizons BetaPro Nasdaq 100 Bear Plus ETF (TSE:HQD) news was published by Stockhouse.com which published an article titled: “MicroCap Report: Sirius XM (T.XSR) to buy back, Pacific Rubiales (T.PRE) sinks …” on January 15, 2016.
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