Horizon's Beta Pro Natural Gas 2x Bull ETF (HNU:TO)

Natural gas is on almost every investor's radar these days and people are trying to time this thing for a rebound. You've probably heard this before but I will mention it again. Never try to catch a falling knife... And I believe that saying holds true for natural gas still today. HNU had a sharp rebound of near 20% on Friday... lets have a look closer look using a 5 minute candle chart.



Taking a look at this chart we see a clearly established floor for the stock around 1.65$. The stock was moving nicely on Friday then it ran into a ceiling at the point where it broke down on Thursday. However, the stock recovered nicely and pushed strongly through the resistance and even closed above Thursday's open. That is a very bullish sign. At this point it is hard to confirm a reversal for sure but things are looking quite good.

Let's have a look at a daily candlestick chart for HNU:



Note that HNU is still in a steady downtrend, but that Friday's white candle closed above the Thursday's black candle. This is a good sign, but since the overall trend is still down, we probably need 1 to 3 more daily candles to confirm a reversal. It is still too risky to step into this in my opinion. Keep it on your watch list -- I'm watching it closely myself.