TwinTrader.com announces the publication of Breakout for Horizons Betapro Natural Gas (HND.TO), an excerpt highlighting public companies on the move and what’s behind their stock activity.
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The Horizons BetaPro NYMEX® Natural Gas Bull+ ETF (HBP Natural Gas Bull+ ETF) and the Horizons BetaPro NYMEX® Natural Gas Bear+ ETF (HBP Natural Gas Bear+ ETF) seek daily investment results equal to 200% the daily performance, or inverse daily performance, of the NYMEX® Natural Gas futures contract for the next delivery month. The HBP NYMEX (symbol) Natural Gas Bull+ and Bear+ ETFs are denominated in Canadian dollars, as the U.S. dollar exposure of the underlying index is hedged daily.
The breakout features significant price cuts in the oil and gas industry, as well as the day’s technicals. The author writes:
“The oil and gas industry has been a recipient of a lot of speculative trades in the past several years, and now are unwinding these trades, lowering prices in the energy complex quite dramatically. … The price action yesterday and today have kept the price of the fund above its breakout. The RSI is neutral, indicating the price still has more available upside movement before technical sellers move in to support the price of natural gas. The MACD has a reading of 0.307, turning bullish on Friday.”
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