The stock of HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) gapped up by $0.39 today and has $12.99 target or 9.00% above today’s $11.92 share price. The 8 months technical chart setup indicates low risk for the $31.04 million company. The gap was reported on Nov, 30 by Barchart.com. If the $12.99 price target is reached, the company will be worth $2.79M 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 26,575 shares traded hands or 37.84% up from the average. HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) has risen 2.72% since April 26, 2016 and is uptrending. It has underperformed by 2.51% the S&P500.
More news for HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) were recently published by: Theglobeandmail.com, which released: “Two ETFs to help you profit from crude oil’s ‘sweet spot'” on February 10, 2014. Midasletter.com‘s article titled: “Subscribe to Midas Letter Free Edition” and published on February 10, 2016 is yet another important article.
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