The stock of Horizons BetaPro Nasdaq 100 Bear Plus ETF (TSE:HQD) gapped down by $0.01 today and has $15.74 target or 7.00% below today’s $16.93 share price. The 5 months technical chart setup indicates high risk for the $9.11M company. The gap down was reported on Nov, 24 by Barchart.com. If the $15.74 price target is reached, the company will be worth $637,700 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 64,000 shares traded hands or 61.25% up from the average. Horizons BetaPro Nasdaq 100 Bear Plus ETF (TSE:HQD) has declined 16.75% since April 20, 2016 and is downtrending. It has underperformed by 22.16% 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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