The stock of HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) gapped up by $0.08 today and has $13.11 target or 6.00% above today’s $12.37 share price. The 8 months technical chart setup indicates low risk for the $32.82 million company. The gap was reported on Dec, 1 by Barchart.com. If the $13.11 price target is reached, the company will be worth $1.97 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 23,835 shares traded hands or 7.41% up from the average. HORIZONS NYMEX CRUDE OIL ETF (TSE:HUC) has risen 5.92% since April 27, 2016 and is uptrending. It has underperformed by 0.01% 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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