The stock of BMO MID PROVINCIAL BOND INDEX ETF (TSE:ZMP) gapped down by $0.04 today and has $13.57 target or 12.00% below today’s $15.42 share price. The 5 months technical chart setup indicates high risk for the $499.64M company. The gap down was reported on Nov, 10 by Barchart.com. If the $13.57 price target is reached, the company will be worth $59.96 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 13,735 shares traded hands. BMO MID PROVINCIAL BOND INDEX ETF (TSE:ZMP) has declined 0.26% since April 8, 2016 and is downtrending. It has underperformed by 5.91% the S&P500.
More notable recent BMO MID PROVINCIAL BOND INDEX ETF (TSE:ZMP) news were published by: Marketwired.com which released: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on September 20, 2016, also Marketwired.com with their article: “BMO Asset Management Inc. Announces Estimated Annual Reinvested Distributions …” published on November 18, 2015, Fool.ca published: “Caution Ahead: Why Bonds May Soon Become Much Harder to Manage” on May 12, 2015. More interesting news about BMO MID PROVINCIAL BOND INDEX ETF (TSE:ZMP) were released by: Business.Financialpost.com and their article: “RBC’s new ETFs a hybrid product” published on September 28, 2011 as well as Theglobeandmail.com‘s news article titled: “Yield hunters will be drawn to Canadian municipal-debt ETF” with publication date: August 12, 2015.
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