The stock of HORIZONS ACTIVE FLOATING RATE BOND ETF (TSE:HFR) gapped down by $0.01 today and has $9.22 target or 8.00% below today’s $10.02 share price. The 8 months technical chart setup indicates high risk for the $363.12 million company. The gap down was reported on Nov, 24 by Barchart.com. If the $9.22 price target is reached, the company will be worth $29.05M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 17,778 shares traded hands. HORIZONS ACTIVE FLOATING RATE BOND ETF (TSE:HFR) has risen 0.91% since April 20, 2016 and is uptrending. It has underperformed by 4.50% the S&P500.
More important recent HORIZONS ACTIVE FLOATING RATE BOND ETF (TSE:HFR) news were published by: Marketwatch.com which released: “Horizons announces October 2016 distributions for certain active ETFs” on October 20, 2016, also Marketwatch.com published article titled: “Horizons announces November 2016 distributions for certain active ETFs”, Marketwatch.com published: “Horizons announces January 2016 distributions for certain Active ETFs” on January 21, 2016. More interesting news about HORIZONS ACTIVE FLOATING RATE BOND ETF (TSE:HFR) was released by: Business.Financialpost.com and their article: “Cash king in the short term, says National Bank ETF strategist” with publication date: September 09, 2013.
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