The stock of Horizons Natural Gas Yield ETF (TSE:HNY) hit a new 52-week low and has $3.00 target or 10.00% below today’s $3.33 share price. The 8 months bearish chart indicates high risk for the $10.03M company. The 1-year low was reported on Dec, 2 by Barchart.com. If the $3.00 price target is reached, the company will be worth $1.00 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The ETF increased 0.30% or $0.01 on December 1, hitting $3.33. About 10,605 shares traded hands. Horizons Natural Gas Yield ETF (TSE:HNY) has declined 32.45% since April 29, 2015 and is downtrending. It has underperformed by 32.25% the S&P500.
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