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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