The stock of BMO SP TSX EQUAL WEIGHT BANKS INDEX ETF (TSE:ZEB) gapped up by $0.04 today and has $29.20 target or 21.00% above today’s $24.13 share price. The 6 months technical chart setup indicates low risk for the $842.74M company. The gap was reported on Oct, 18 by Barchart.com. If the $29.20 price target is reached, the company will be worth $176.98M 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 121,174 shares traded hands or 18.53% up from the average. BMO SP TSX EQUAL WEIGHT BANKS INDEX ETF (TSE:ZEB) has risen 8.86% since March 11, 2016 and is uptrending. It has outperformed by 3.37% the S&P500.
More notable recent BMO SP TSX EQUAL WEIGHT BANKS INDEX ETF (TSE:ZEB) news were published by: Fool.ca which released: “BMO S&P/TSX Equal Weight Banks Index ETF: Why You Should Own it” on September 23, 2016, also Fool.ca with their article: “Picking Banks: Exchange-Traded Funds or Single Stock Purchases?” published on September 24, 2015, Theglobeandmail.com published: “The case against covered call ETFs” on May 23, 2014. More interesting news about BMO SP TSX EQUAL WEIGHT BANKS INDEX ETF (TSE:ZEB) were released by: Business.Financialpost.com and their article: “Why dividend ETFs are pulling investors in” published on March 07, 2014 as well as Marketwired.com‘s news article titled: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” with publication date: August 19, 2016.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.