The stock of BMO Covered Call Dow Jones Industrial Average Hedged To CAD ETF (TSE:ZWA) gapped up by $0.09 today and has $36.08 target or 91.00% above today’s $18.89 share price. The 8 months technical chart setup indicates low risk for the $207.13 million company. The gap was reported on Nov, 7 by Barchart.com. If the $36.08 price target is reached, the company will be worth $188.49M 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 12,723 shares traded hands or 70.28% up from the average. BMO Covered Call Dow Jones Industrial Average Hedged To CAD ETF (TSE:ZWA) has declined 1.06% since April 1, 2016 and is downtrending. It has underperformed by 3.02% the S&P500.
More notable recent BMO Covered Call Dow Jones Industrial Average Hedged To CAD ETF (TSE:ZWA) news were published by: Theglobeandmail.com which released: “Three top ETF picks from JC Hood Investment’s John Hood” on April 13, 2015, also Marketwired.com with their article: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” published on July 19, 2016, Marketwired.com published: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” on November 18, 2015. More interesting news about BMO Covered Call Dow Jones Industrial Average Hedged To CAD ETF (TSE:ZWA) were released by: Theglobeandmail.com and their article: “The case against covered call ETFs” published on May 23, 2014 as well as Fool.ca‘s news article titled: “The 5 Best Dividend ETFs for Investors” with publication date: September 11, 2013.
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