Could BMO SP 500 INDEX ETF Recover After Today’s Gap Up?

 Could BMO SP 500 INDEX ETF Recover After Today's Gap Up?

The stock of BMO SP 500 INDEX ETF (TSE:ZSP) gapped up by $0.01 today and has $42.19 target or 33.00% above today’s $31.72 share price. The 7 months technical chart setup indicates low risk for the $2.79 billion company. The gap was reported on Nov, 9 by Barchart.com. If the $42.19 price target is reached, the company will be worth $920.70M 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 393,926 shares traded hands or 124.61% up from the average. BMO SP 500 INDEX ETF (TSE:ZSP) has risen 6.00% since April 5, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.

Another recent and important BMO SP 500 INDEX ETF (TSE:ZSP) news was published by Theglobeandmail.com which published an article titled: “BMO cuts annual management fees by more than 50% on some ETFs” on June 15, 2016.

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