The stock of BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) gapped down by $0.01 today and has $15.17 target or 6.00% below today’s $16.14 share price. The 8 months technical chart setup indicates high risk for the $2.03 billion company. The gap down was reported on Nov, 7 by Barchart.com. If the $15.17 price target is reached, the company will be worth $121.80 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 29,498 shares traded hands. BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) has risen 1.32% since April 1, 2016 and is uptrending. It has underperformed by 0.64% the S&P500.
More important recent BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) news were published by: Theglobeandmail.com which released: “BMO cuts annual management fees by more than 50% on some ETFs” on June 15, 2016, also Marketwired.com published article titled: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …”, Theglobeandmail.com published: “In a rising interest rate world, should you own bonds or bond funds?” on July 02, 2013. More interesting news about BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) was released by: Theglobeandmail.com and their article: “What investors need to know about tactical bond ETFs” with publication date: July 03, 2015.
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