The stock of Horizns BetaPro S&P TSX 60 Bear Pl (ETF) (TSE:HXD) gapped up by $0.01 today and has $8.01 target or 9.00% above today’s $7.35 share price. The 8 months technical chart setup indicates low risk for the $70.28 million company. The gap was reported on Nov, 29 by Barchart.com. If the $8.01 price target is reached, the company will be worth $6.33M 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 114,500 shares traded hands. Horizns BetaPro S&P TSX 60 Bear Pl (ETF) (TSE:HXD) has declined 21.14% since April 25, 2016 and is downtrending. It has underperformed by 26.40% the S&P500.
More recent Horizns BetaPro S&P TSX 60 Bear Pl (ETF) (TSE:HXD) news were published by: Midasletter.com which released: “S&P/TSX Composite, S&P 500: Top Trades in Crisis Markets â€“ Horizons BetaPro ETFs” on January 20, 2016. Also Theglobeandmail.com published the news titled: “ETFs you should get to know – and those to avoid” on August 24, 2012. Theglobeandmail.com‘s news article titled: “How stock laggards manage to stay in one of Canada’s most followed indexes” with publication date: December 12, 2015 was also an interesting one.
Horizons BetaPro S&P/TSX 60 Bear Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavor to correspond to two times (200%) the daily performance of the S&P/TSX 60 Index. The ETF has a market cap of $70.28 million. In order to achieve its objective, the total underlying notional value of these instruments and/or securities will typically not exceed two times the total assets of the ETF. It currently has negative earnings. Assets not invested in financial instruments or equity securities may be invested in debt instruments or money market instruments with a term not to exceed 365 days, or reverse repurchase agreements with a term not to exceed 30 days.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.