Could BMO Covered Call Canadian Banks ETF Increase Even More? The Stock Just Had a Gap Up

 Could BMO Covered Call Canadian Banks ETF Increase Even More? The Stock Just Had a Gap Up

The stock of BMO Covered Call Canadian Banks ETF (TSE:ZWB) gapped up by $0.01 today and has $26.85 target or 55.00% above today’s $17.32 share price. The 6 months technical chart setup indicates low risk for the $1.17B company. The gap was reported on Nov, 7 by Barchart.com. If the $26.85 price target is reached, the company will be worth $643.50M 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%. About 241,415 shares traded hands or 132.37% up from the average. BMO Covered Call Canadian Banks ETF (TSE:ZWB) has risen 6.88% since April 1, 2016 and is uptrending. It has outperformed by 4.93% the S&P500.

More notable recent BMO Covered Call Canadian Banks ETF (TSE:ZWB) news were published by: Theglobeandmail.com which released: “The case against covered call ETFs” on May 23, 2014, also Theglobeandmail.com with their article: “Covered call ETFs: Are they for you?” published on May 11, 2012, Fool.ca published: “How to Get a 5.2% Monthly Dividend Yield From the Canadian Banks” on July 06, 2015. More interesting news about BMO Covered Call Canadian Banks ETF (TSE:ZWB) were released by: Theglobeandmail.com and their article: “Three top ETFs from JC Hood’s John Hood” published on January 19, 2016 as well as Business.Financialpost.com‘s news article titled: “Covered call ETFs: Good for income, not return” with publication date: February 10, 2012.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment