The stock of Horizons Betapro S&P 500 Index C$ Hedged ETF (TSE:HXS) gapped down by $0.19 today and has $51.30 target or 5.00% below today’s $54.00 share price. The 7 months technical chart setup indicates high risk for the $525.36 million company. The gap down was reported on Dec, 1 by Barchart.com. If the $51.30 price target is reached, the company will be worth $26.27M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 11,616 shares traded hands. Horizons Betapro S&P 500 Index C$ Hedged ETF (TSE:HXS) has risen 13.24% since April 27, 2016 and is uptrending. It has outperformed by 7.31% the S&P500.
More news for Horizons Betapro S&P 500 Index C$ Hedged ETF (TSE:HXS) were recently published by: Business.Financialpost.com, which released: “Horizons BetaPro launches Canada’s first volatility ETFs” on December 16, 2010. Theglobeandmail.com‘s article titled: “Volatility products offer tempting but dangerous investment” and published on September 13, 2011 is yet another important article.
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