The stock of BMO SHORT FEDERAL BOND INDEX ETF (TSE:ZFS) gapped down by $0.01 today and has $12.74 target or 13.00% below today’s $14.64 share price. The 8 months technical chart setup indicates high risk for the $498.71M company. The gap down was reported on Nov, 7 by Barchart.com. If the $12.74 price target is reached, the company will be worth $64.83M 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 18,600 shares traded hands or 368.40% up from the average. BMO SHORT FEDERAL BOND INDEX ETF (TSE:ZFS) has declined 0.54% since April 1, 2016 and is downtrending. It has underperformed by 2.50% the S&P500.
More notable recent BMO SHORT FEDERAL BOND INDEX ETF (TSE:ZFS) news were published by: Marketwired.com which released: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on July 19, 2016, also Marketwired.com with their article: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” published on November 18, 2015, Theglobeandmail.com published: “Eye on Shorts: What bearish investors are betting against” on March 21, 2016. More interesting news about BMO SHORT FEDERAL BOND INDEX ETF (TSE:ZFS) were released by: Theglobeandmail.com and their article: “Three top picks from Jon Vialoux” published on April 08, 2016 as well as Business.Financialpost.com‘s news article titled: “Provincial bond ETFs combine yield, safety” with publication date: January 25, 2013.
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