The stock of BMO EQL WGT US HCARE HDGD TO CAD IDX ETF (TSE:ZUH) gapped up by $0.04 today and has $60.54 target or 52.00% above today’s $39.83 share price. The 6 months technical chart setup indicates low risk for the $199.60 million company. The gap was reported on Nov, 9 by Barchart.com. If the $60.54 price target is reached, the company will be worth $103.79M 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 46,868 shares traded hands or 312.57% up from the average. BMO EQL WGT US HCARE HDGD TO CAD IDX ETF (TSE:ZUH) has risen 1.22% since April 5, 2016 and is uptrending. It has underperformed by 3.56% the S&P500.
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