Time to Buy Bank of Montreal After Today’s Gap Up?

 Time to Buy Bank of Montreal After Today's Gap Up?

The stock of Bank of Montreal (TSE:BMO) gapped up by $0.13 today and has $135.44 target or 59.00% above today’s $85.18 share price. The 9 months technical chart setup indicates low risk for the $54.37B company. The gap was reported on Nov, 7 by Barchart.com. If the $135.44 price target is reached, the company will be worth $32.08 billion 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 484,903 shares traded hands. Bank of Montreal (TSE:BMO) has risen 6.29% since April 1, 2016 and is uptrending. It has outperformed by 4.33% the S&P500.

Bank of Montreal (TSE:BMO) Ratings Coverage

Out of 10 analysts covering Bank Of Montreal (TSE:BMO), 1 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 10% are positive. $91 is the highest target while $60 is the lowest. The $86.15 average target is 1.14% above today’s ($85.18) stock price. Bank Of Montreal has been the topic of 29 analyst reports since August 20, 2015 according to StockzIntelligence Inc. As per Wednesday, September 21, the company rating was maintained by Dundee Securities. The stock has “Sector Perform” rating given by RBC Capital Markets on Wednesday, December 2.

More notable recent Bank of Montreal (TSE:BMO) news were published by: Nasdaq.com which released: “Why Bank of Montreal Is a Top 25 Dividend Stock (BMO)” on November 07, 2016, also Business.Financialpost.com with their article: “Executive shuffle at Bank of Montreal as chief operating officer Frank Techar …” published on October 28, 2016, Seekingalpha.com published: “Does Bank Of Montreal Stack Up?” on October 24, 2016. More interesting news about Bank of Montreal (TSE:BMO) were released by: Businesswire.com and their article: “Fitch Affirms Bank of Montreal Ratings at ‘AA-/F1+’; Outlook Stable” published on October 28, 2016 as well as Finance.Yahoo.com‘s news article titled: “UPDATE 1-Bank of Montreal shakes up senior management team” with publication date: October 28, 2016.

Bank of Montreal is a financial services company. The company has a market cap of $54.37 billion. The Bank provides a range of personal and commercial banking, wealth management and investment banking services and products. It has a 12.67 P/E ratio. The Bank’s operating groups include Personal and Commercial Banking, Wealth Management, BMO Capital Markets (BMO CM) and Corporate Services, including Technology and Operations.

BMO.TO Company Profile

Bank of Montreal (BMO), incorporated on March 15, 1995, is a financial services company. The Bank provides a range of personal and commercial banking, wealth management and investment banking services and products. The Bank’s operating groups include Personal and Commercial Banking, Wealth Management, BMO Capital Markets (BMO CM) and Corporate Services, including Technology and Operations. The Bank operates primarily in Canada and the United States. It also has activities in the United Kingdom, Europe, the Caribbean and Asia.

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