After Today’s Gap Up, Is BMO LONG CORPORATE BOND INDEX ETF’s Near-Term Analysis Positive

 After Today's Gap Up, Is BMO LONG CORPORATE BOND INDEX ETF's Near Term Analysis Positive

The stock of BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) gapped up by $0.04 today and has $43.22 target or 131.00% above today’s $18.71 share price. The 6 months technical chart setup indicates low risk for the $288.19 million company. The gap was reported on Oct, 31 by Barchart.com. If the $43.22 price target is reached, the company will be worth $377.53M 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 12,591 shares traded hands or 33.24% up from the average. BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) has risen 4.25% since March 24, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.

More notable recent BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) news were published by: Marketwired.com which released: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on July 19, 2016, also Theglobeandmail.com with their article: “Beware the risk in bond funds” published on July 10, 2013, Fool.ca published: “Caution Ahead: Why Bonds May Soon Become Much Harder to Manage” on May 12, 2015. More interesting news about BMO LONG CORPORATE BOND INDEX ETF (TSE:ZLC) were released by: Theglobeandmail.com and their article: “Eye on Shorts: What bearish investors are betting against” published on March 21, 2016 as well as Theglobeandmail.com‘s news article titled: “Corporate bond ETFs: More than meets the eye” with publication date: October 04, 2014.

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