Bearish Gap Down for BMO MSCI EMERGING MARKETS INDEX ETF After Worse Fundamentals

 Bearish Gap Down for BMO MSCI EMERGING MARKETS INDEX ETF After Worse Fundamentals

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.

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