The stock of Horizons Betapro S&P 500 Index C$ Hedged ETF (TSE:HXS) gapped down by $0.15 today and has $49.60 target or 9.00% below today’s $54.50 share price. The 9 months technical chart setup indicates high risk for the $535.65 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $49.60 price target is reached, the company will be worth $48.21 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 40,823 shares traded hands or 81.37% up from the average. Horizons Betapro S&P 500 Index C$ Hedged ETF (TSE:HXS) has risen 15.22% since April 22, 2016 and is uptrending. It has outperformed by 9.20% the S&P500.
More notable recent Horizons Betapro S&P 500 Index C$ Hedged ETF (TSE:HXS) news were published by: Business.Financialpost.com which released: “Horizons BetaPro launches Canada’s first volatility ETFs” on December 16, 2010, also Theglobeandmail.com with their article: “Volatility products offer tempting but dangerous investment” published on September 13, 2011, Seekingalpha.com published: “No ‘Bull’ About Leveraged Gold Bull ETFs” on November 21, 2012. More interesting news about Horizons Betapro S&P 500 Index C$ Hedged ETF (TSE:HXS) were released by: Bnn.ca and their article: “Keith Richard’s Top Picks: October 5, 2016” published on October 05, 2016 as well as Business.Financialpost.com‘s news article titled: “David Rosenberg says there’s a big problem with Canada’s ‘face-ripping rally …” with publication date: May 17, 2016.
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