Does Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) Have Any Gas After Today’s Gap Up?

 Does Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) Have Any Gas After Today's Gap Up?

The stock of Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) (TSE:HOD) gapped up by $0.22 today and has $13.47 target or 8.00% above today’s $12.47 share price. The 5 months technical chart setup indicates low risk for the $46.06 million company. The gap was reported on Nov, 25 by Barchart.com. If the $13.47 price target is reached, the company will be worth $3.68 million 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 1.04 million shares traded hands. Hori. Beta. NYMEX Cr. Oil Br. Pl (ETF) (TSE:HOD) has declined 21.00% since April 21, 2016 and is downtrending. It has underperformed by 26.41% the S&P500.

Horizons BetaPro NYMEX Crude Oil Bear Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that correspond to two times (200%) the inverse (opposite) of the daily performance of the New York Mercantile Exchange (NYMEX) light sweet crude oil futures contract for the next delivery month. The ETF has a market cap of $46.06 million. The Fund is managed by BetaPro Management Inc. It currently has negative earnings. ProFund Advisors LLC is the portfolio manager of the Fund.

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