What’s Ahead for BMO Covered Call Utilities ETF After Today’s Gap Up?

 What's Ahead for BMO Covered Call Utilities ETF After Today's Gap Up?

The stock of BMO Covered Call Utilities ETF (TSE:ZWU) gapped up by $0.01 today and has $25.23 target or 82.00% above today’s $13.86 share price. The 8 months technical chart setup indicates low risk for the $431.66M company. The gap was reported on Oct, 18 by Barchart.com. If the $25.23 price target is reached, the company will be worth $353.96 million 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 65,671 shares traded hands or 14.94% up from the average. BMO Covered Call Utilities ETF (TSE:ZWU) has risen 3.69% since March 11, 2016 and is uptrending. It has underperformed by 1.79% the S&P500.

More notable recent BMO Covered Call Utilities ETF (TSE:ZWU) news were published by: Theglobeandmail.com which released: “The case against covered call ETFs” on May 23, 2014, also Theglobeandmail.com with their article: “Larry Berman: A defensive tack for the late stages of market cycle” published on September 04, 2016, Marketwired.com published: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on August 19, 2016. More interesting news about BMO Covered Call Utilities ETF (TSE:ZWU) were released by: Marketwired.com and their article: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” published on November 18, 2015 as well as Fool.ca‘s news article titled: “The 5 Best Dividend ETFs for Investors” with publication date: September 11, 2013.

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