The stock of BMO EQL WGT US HCARE HDGD TO CAD IDX ETF (TSE:ZUH) gapped up by $0.13 today and has $77.30 target or 89.00% above today’s $40.90 share price. The 6 months technical chart setup indicates low risk for the $209.96M company. The gap was reported on Oct, 18 by Barchart.com. If the $77.30 price target is reached, the company will be worth $186.86M 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 18,020 shares traded hands or 198.59% up from the average. BMO EQL WGT US HCARE HDGD TO CAD IDX ETF (TSE:ZUH) has risen 2.97% since March 11, 2016 and is uptrending. It has underperformed by 2.52% the S&P500.
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