The stock of BMO Junior Gold Index ETF (TSE:ZJG) gapped down by $0.13 today and has $8.25 target or 10.00% below today’s $9.17 share price. The 9 months technical chart setup indicates high risk for the $89.78M company. The gap down was reported on Nov, 7 by Barchart.com. If the $8.25 price target is reached, the company will be worth $8.98 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 61,421 shares traded hands. BMO Junior Gold Index ETF (TSE:ZJG) has risen 41.79% since April 1, 2016 and is uptrending. It has outperformed by 39.83% the S&P500.
More news for BMO Junior Gold Index ETF (TSE:ZJG) were recently published by: Theglobeandmail.com, which released: “Five ETFs to choose from as gold stocks finally come alive” on July 17, 2013. Theglobeandmail.com‘s article titled: “Buy gold now: Five ETFs to consider” and published on July 17, 2012 is yet another important article.
BMO Junior Gold Index ETF invests in the equity securities of gold mining companies. The ETF has a market cap of $89.78 million. The Fund seeks to replicate, to the extent possible, the performance of a junior gold companies index, net of expenses. It currently has negative earnings. It seeks to replicate the performance of the Dow Jones North America Select Junior Gold Index.