The stock of HORIZONS ACTIVE HIGH YIELD BOND ETF (TSE:HYI) gapped down by $0.04 today and has $9.60 target or 3.00% below today’s $9.90 share price. The 8 months technical chart setup indicates high risk for the $88.45 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $9.60 price target is reached, the company will be worth $2.65M 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%. The ETF last traded at $9.9 per share. It is down 3.86% since April 22, 2016 and is uptrending. It has underperformed by 2.15% the S&P500.
More important recent HORIZONS ACTIVE HIGH YIELD BOND ETF (TSE:HYI) 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 January 2016 distributions for certain Active ETFs”, Business.Financialpost.com published: “Cash king in the short term, says National Bank ETF strategist” on September 09, 2013. More interesting news about HORIZONS ACTIVE HIGH YIELD BOND ETF (TSE:HYI) was released by: Marketwatch.com and their article: “Horizons ETFs Launches Horizons Active Cdn Municipal Bond ETF” with publication date: August 13, 2015.
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