Traders Are Bearish Horizons BetaPro Nasdaq 100 Bull Plus ETF After Today’s Gap Down

 Traders Are Bearish Horizons BetaPro Nasdaq 100 Bull Plus ETF After Today's Gap Down

The stock of Horizons BetaPro Nasdaq 100 Bull Plus ETF (TSE:HQU) gapped down by $0.08 today and has $29.96 target or 4.00% below today’s $31.21 share price. The 7 months technical chart setup indicates high risk for the $19.91 million company. The gap down was reported on Dec, 1 by Barchart.com. If the $29.96 price target is reached, the company will be worth $796,400 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 18,482 shares traded hands. Horizons BetaPro Nasdaq 100 Bull Plus ETF (TSE:HQU) has risen 17.23% since April 27, 2016 and is uptrending. It has outperformed by 11.31% the S&P500.

More news for Horizons BetaPro Nasdaq 100 Bull Plus ETF (TSE:HQU) were recently published by: Theglobeandmail.com, which released: “The top Canadian ETF needs tech to stay relevant” on February 08, 2013. Stockhouse.com‘s article titled: “Why short an ETF? Buy inverse instead” and published on December 16, 2011 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment