The stock of BMO Short Corporate Bond Index ETF (TSE:ZCS) gapped down by $0.01 today and has $13.36 target or 8.00% below today’s $14.52 share price. The 7 months technical chart setup indicates high risk for the $1.32 billion company. The gap down was reported on Nov, 10 by Barchart.com. If the $13.36 price target is reached, the company will be worth $105.60 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 51,029 shares traded hands or 57.39% up from the average. BMO Short Corporate Bond Index ETF (TSE:ZCS) has declined 0.34% since April 6, 2016 and is downtrending. It has underperformed by 5.99% the S&P500.
More notable recent BMO Short Corporate Bond Index ETF (TSE:ZCS) news were published by: Marketwired.com which released: “BMO Asset Management Inc. Announces Cash Distributions for BMO Exchange Traded …” on July 19, 2016, also Theglobeandmail.com with their article: “BMO cuts annual management fees by more than 50% on some ETFs” published on June 15, 2016, Theglobeandmail.com published: “How safe are short-term bond funds?” on August 30, 2013. More interesting news about BMO Short Corporate Bond Index ETF (TSE:ZCS) were released by: Theglobeandmail.com and their article: “Larry Berman: Why a balanced fund I run currently has very little exposure to …” published on July 18, 2016 as well as Theglobeandmail.com‘s news article titled: “Play it safe with a conservative ETF investment portfolio” with publication date: December 12, 2015.
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