The stock of HORIZONS NYMEX NATURAL GAS ETF (TSE:HUN) gapped up by $0.01 today and has $7.36 target or 5.00% above today’s $7.01 share price. The 9 months technical chart setup indicates low risk for the $12.23M company. The gap was reported on Dec, 1 by Barchart.com. If the $7.36 price target is reached, the company will be worth $611,500 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 11,400 shares traded hands or 123.62% up from the average. HORIZONS NYMEX NATURAL GAS ETF (TSE:HUN) has risen 0.58% since April 27, 2016 and is uptrending. It has underperformed by 5.34% the S&P500.
More news for HORIZONS NYMEX NATURAL GAS ETF (TSE:HUN) were recently published by: Theglobeandmail.com, which released: “Three top ETF picks from Horizons’ Brooke Thackray” on September 17, 2015. Seekingalpha.com‘s article titled: “Natural Gas And The Trickling Bull” and published on September 12, 2016 is yet another important article.
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