Could Hori. Beta. NYMEX Cr. Oil Bl. Pl. (ETF) Increase Even More? The Stock Just Had a Gap Up

 Could Hori. Beta. NYMEX Cr. Oil Bl. Pl. (ETF) Increase Even More? The Stock Just Had a Gap Up

The stock of Hori. Beta. NYMEX Cr. Oil Bl. Pl. (ETF) (TSE:HOU) gapped up by $0.68 today and has $8.23 target or 8.00% above today’s $7.62 share price. The 7 months technical chart setup indicates low risk for the $253.10M company. The gap was reported on Nov, 30 by Barchart.com. If the $8.23 price target is reached, the company will be worth $20.25M 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 3.89M shares traded hands. Hori. Beta. NYMEX Cr. Oil Bl. Pl. (ETF) (TSE:HOU) has declined 22.51% since April 26, 2016 and is downtrending. It has underperformed by 27.73% the S&P500.

Horizons BetaPro NYMEX Crude Oil Bull+ ETF seek daily investment results equal to 200% the daily performance of the NYMEX light sweet crude oil futures contract for the next delivery month. The ETF has a market cap of $253.10 million. The HBP NYMEX Crude Oil Bull is denominated in Canadian dollars, as the United States dollar exposure of the underlying index is hedged daily. It currently has negative earnings. The Fund is managed by BetaPro Management Inc.

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