The stock of BMO EQL WGT US BANK HDGD TO CAD IDX ETF (TSE:ZUB) gapped up by $0.09 today and has $28.83 target or 44.00% above today’s $20.02 share price. The 7 months technical chart setup indicates low risk for the $326.60 million company. The gap was reported on Oct, 19 by Barchart.com. If the $28.83 price target is reached, the company will be worth $143.70 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 14,797 shares traded hands. BMO EQL WGT US BANK HDGD TO CAD IDX ETF (TSE:ZUB) has risen 10.64% since March 14, 2016 and is uptrending. It has outperformed by 5.09% the S&P500.
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