The stock of BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) gapped down by $0.04 today and has $14.56 target or 9.00% below today’s $16.00 share price. The 8 months technical chart setup indicates high risk for the $2.01B company. The gap down was reported on Nov, 9 by Barchart.com. If the $14.56 price target is reached, the company will be worth $180.90 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 57,934 shares traded hands or 85.15% up from the average. BMO AGGREGATE BOND INDEX ETF (TSE:ZAG) has risen 0.19% since April 5, 2016 and is uptrending. It has underperformed by 4.60% the S&P500.
More 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 the news titled: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on July 19, 2016. Theglobeandmail.com‘s news article titled: “In a rising interest rate world, should you own bonds or bond funds?” with publication date: July 02, 2013 was also an interesting one.
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