The stock of Horizons BetaPro S&P TSX 60 Index ETF (TSE:HXT) gapped up by $0.12 today and has $32.50 target or 8.00% above today’s $30.09 share price. The 6 months technical chart setup indicates low risk for the $929.12M company. The gap was reported on Nov, 30 by Barchart.com. If the $32.50 price target is reached, the company will be worth $74.33 million 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 328,785 shares traded hands or 7.28% up from the average. Horizons BetaPro S&P TSX 60 Index ETF (TSE:HXT) has risen 11.40% since April 26, 2016 and is uptrending. It has outperformed by 6.17% the S&P500.
More recent Horizons BetaPro S&P TSX 60 Index ETF (TSE:HXT) news were published by: Fool.ca which released: “Here’s How to Invest in the S&P/TSX Composite â€” And Why You May Not Want To” on July 24, 2013. Also Theglobeandmail.com published the news titled: “ETFs you should get to know – and those to avoid” on August 24, 2012. Midasletter.com‘s news article titled: “Subscribe to Midas Letter Free Edition” with publication date: February 10, 2016 was also an interesting one.
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