The stock of BMO MID PROVINCIAL BOND INDEX ETF (TSE:ZMP) gapped up by $0.01 today and has $39.81 target or 155.00% above today’s $15.61 share price. The 7 months technical chart setup indicates low risk for the $494.80 million company. The gap was reported on Oct, 31 by Barchart.com. If the $39.81 price target is reached, the company will be worth $766.94M 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%. The ETF last traded at $15.61 per share. It is down 0.52% since March 29, 2016 and is uptrending. It has underperformed by 2.96% the S&P500.
More notable recent BMO MID PROVINCIAL BOND INDEX ETF (TSE:ZMP) 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: “Eye on Shorts: What bearish investors are betting against” published on February 21, 2013, Fool.ca published: “Caution Ahead: Why Bonds May Soon Become Much Harder to Manage” on May 12, 2015. More interesting news about BMO MID PROVINCIAL BOND INDEX ETF (TSE:ZMP) were released by: Business.Financialpost.com and their article: “RBC’s new ETFs a hybrid product” published on September 28, 2011 as well as Theglobeandmail.com‘s news article titled: “Yield hunters will be drawn to Canadian municipal-debt ETF” with publication date: August 12, 2015.
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