What’s Next for BMO SP TSX EQL WEIGHT GLBL GOLD IDX ETF After Today’s Gap Up?

 What's Next for BMO SP TSX EQL WEIGHT GLBL GOLD IDX ETF After Today's Gap Up?

The stock of BMO SP TSX EQL WEIGHT GLBL GOLD IDX ETF (TSE:ZGD) gapped up by $0.02 today and has $33.09 target or 190.00% above today’s $11.41 share price. The 6 months technical chart setup indicates low risk for the $32.50M company. The gap was reported on Oct, 19 by Barchart.com. If the $33.09 price target is reached, the company will be worth $61.75 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 21,220 shares traded hands or 16.89% up from the average. BMO SP TSX EQL WEIGHT GLBL GOLD IDX ETF (TSE:ZGD) has risen 26.71% since March 14, 2016 and is uptrending. It has outperformed by 21.17% the S&P500.

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.

Tags: , ,

Related posts

Leave a Comment