The stock of Healthcare Leaders Income Fund (TSE:HHL) gapped down by $0.05 today and has $7.13 target or 9.00% below today’s $7.84 share price. The 9 months technical chart setup indicates high risk for the $104.23 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $7.13 price target is reached, the company will be worth $9.38M 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 23,630 shares traded hands or 262455.56% up from the average. Healthcare Leaders Income Fund (TSE:HHL) has declined 6.98% since April 27, 2016 and is downtrending. It has underperformed by 12.99% the S&P500.
More notable recent Healthcare Leaders Income Fund (TSE:HHL) news were published by: Marketwired.com which released: “Harvest Portfolios Group Inc. Announces Completion of ETF Conversions” on October 24, 2016, also Marketwired.com with their article: “Harvest Portfolios Group Inc. Announces Unitholder Approval of ETF Conversions” published on September 19, 2016, Forbes.com published: “5 Astonishingly Effective Ways This Healthcare Leader Is Reinventing The …” on September 29, 2016. More interesting news about Healthcare Leaders Income Fund (TSE:HHL) were released by: Businessinsider.com and their article: “Doctors and business leaders share their 9 best pieces of career advice” published on June 19, 2016 as well as Fortune.com‘s news article titled: “Term Sheet — Monday, November 28” with publication date: November 28, 2016.
Healthcare Leaders Income Fund is a closed-end investment fund. The company has a market cap of $104.23 million. The Fund’s investment objectives are to provide unitholders with the opportunity for capital appreciation; monthly cash distributions, and lower overall volatility of Portfolio returns than would otherwise be experienced by owning Equity Securities of the Healthcare Leaders directly. It currently has negative earnings. The Fund invests in an equally weighted portfolio of equity securities of approximately 20 healthcare issuers, which are issuers listed on a North American stock exchange that are included in the healthcare sector of the Global Industry Classification Standards.
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