Bearish Gap Down for BMO HIGH YLD US CORP BND HDG CAD IDX ETF After Worse Fundamentals

 Bearish Gap Down for BMO HIGH YLD US CORP BND HDG CAD IDX ETF After Worse Fundamentals

The stock of BMO HIGH YLD US CORP BND HDG CAD IDX ETF (TSE:ZHY) gapped down by $0.01 today and has $13.44 target or 6.00% below today’s $14.30 share price. The 5 months technical chart setup indicates high risk for the $1.16 billion company. The gap down was reported on Oct, 31 by Barchart.com. If the $13.44 price target is reached, the company will be worth $69.60 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 23,923 shares traded hands or 21.22% up from the average. BMO HIGH YLD US CORP BND HDG CAD IDX ETF (TSE:ZHY) has risen 6.30% since March 24, 2016 and is uptrending. It has outperformed by 2.83% the S&P500.

More news for BMO HIGH YLD US CORP BND HDG CAD IDX ETF (TSE:ZHY) were recently published by: Theglobeandmail.com, which released: “Eye on Shorts: What bearish investors are betting against” on March 21, 2016. Theglobeandmail.com‘s article titled: “The Globe and Mail” and published on July 11, 2010 is yet another important article.

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