What’s Propelling Hori. Beta. NYMEX Cr. Oil Bl. Pl. (ETF) to Increase So Much? The Stock Gaps Up Today

 What's Propelling Hori. Beta. NYMEX Cr. Oil Bl. Pl. (ETF) to Increase So Much? The Stock Gaps Up Today

The stock of Hori. Beta. NYMEX Cr. Oil Bl. Pl. (ETF) (TSE:HOU) gapped up by $0.25 today and has $8.91 target or 4.00% above today’s $8.57 share price. The 8 months technical chart setup indicates low risk for the $301.60M company. The gap was reported on Dec, 1 by Barchart.com. If the $8.91 price target is reached, the company will be worth $12.06M 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 7.44 million shares traded hands or 69.48% up from the average. Hori. Beta. NYMEX Cr. Oil Bl. Pl. (ETF) (TSE:HOU) has declined 14.55% since April 27, 2016 and is downtrending. It has underperformed by 20.48% the S&P500.

Horizons BetaPro NYMEX Crude Oil Bull+ ETF seek daily investment results equal to 200% the daily performance of the NYMEX light sweet crude oil futures contract for the next delivery month. The ETF has a market cap of $301.60 million. The HBP NYMEX Crude Oil Bull is denominated in Canadian dollars, as the United States dollar exposure of the underlying index is hedged daily. It currently has negative earnings. The Fund is managed by BetaPro Management Inc.

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