The stock of BMO MSCI EAFE IDX ETF (TSE:ZEA) gapped down by $0.02 today and has $14.67 target or 9.00% below today’s $16.12 share price. The 9 months technical chart setup indicates high risk for the $1.05B company. The gap down was reported on Nov, 4 by Barchart.com. If the $14.67 price target is reached, the company will be worth $94.50M 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 20,742 shares traded hands or 108.42% up from the average. BMO MSCI EAFE IDX ETF (TSE:ZEA) has risen 4.60% since April 4, 2016 and is uptrending. It has outperformed by 3.51% the S&P500.
More notable recent BMO MSCI EAFE IDX ETF (TSE:ZEA) news were published by: Theglobeandmail.com which released: “Three top picks from JC Hood Investment’s John Hood” on May 09, 2015, also Marketwired.com with their article: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” published on September 20, 2016, Business.Financialpost.com published: “Bid-ask spreads and market coverage growing in importance as ETF fees drop” on April 28, 2014. More interesting news about BMO MSCI EAFE IDX ETF (TSE:ZEA) were released by: Theglobeandmail.com and their article: “Three top ETF picks from JC Hood Investment’s John Hood” published on April 13, 2015 as well as Theglobeandmail.com‘s news article titled: “Canadian investors go global in hunt for better returns” with publication date: September 29, 2015.
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