The stock of BMO MSCI EMERGING MARKETS INDEX ETF (TSE:ZEM) gapped down by $0.2 today and has $14.70 target or 14.00% below today’s $17.09 share price. The 7 months technical chart setup indicates high risk for the $159.79M company. The gap down was reported on Nov, 9 by Barchart.com. If the $14.70 price target is reached, the company will be worth $22.37M 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 20,774 shares traded hands or 385.71% up from the average. BMO MSCI EMERGING MARKETS INDEX ETF (TSE:ZEM) has risen 16.40% since April 5, 2016 and is uptrending. It has outperformed by 11.62% the S&P500.
More notable recent BMO MSCI EMERGING MARKETS INDEX ETF (TSE:ZEM) news were published by: Theglobeandmail.com which released: “Three top ETF picks from technical analyst Bill Carrigan” on June 13, 2014, also Theglobeandmail.com with their article: “If volatility is so low, why is portfolio risk so high?” published on August 28, 2016, Marketwired.com published: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” on November 18, 2015. More interesting news about BMO MSCI EMERGING MARKETS INDEX ETF (TSE:ZEM) were released by: Business.Financialpost.com and their article: “ETFs to play the fear factor trade” published on October 18, 2013 as well as Theglobeandmail.com‘s news article titled: “Emerging market funds that weathered the storm” with publication date: February 19, 2014.