What’s Propelling Horizons BetaPro Nasdaq 100 Bear Plus ETF to Increase So Much? The Stock Gaps Up Today

 What's Propelling Horizons BetaPro Nasdaq 100 Bear Plus ETF to Increase So Much? The Stock Gaps Up Today

The stock of Horizons BetaPro Nasdaq 100 Bear Plus ETF (TSE:HQD) gapped up by $0.14 today and has $18.51 target or 4.00% above today’s $17.80 share price. The 7 months technical chart setup indicates low risk for the $9.67M company. The gap was reported on Dec, 1 by Barchart.com. If the $18.51 price target is reached, the company will be worth $386,800 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 13,295 shares traded hands. Horizons BetaPro Nasdaq 100 Bear Plus ETF (TSE:HQD) has declined 19.91% since April 27, 2016 and is downtrending. It has underperformed by 25.83% the S&P500.

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