What’s in BMO SP 500 INDEX ETF After Today’s Gap Up?

 What's in BMO SP 500 INDEX ETF After Today's Gap Up?

The stock of BMO SP 500 INDEX ETF (TSE:ZSP) gapped up by $0.24 today and has $47.48 target or 47.00% above today’s $32.30 share price. The 9 months technical chart setup indicates low risk for the $2.84 billion company. The gap was reported on Nov, 10 by Barchart.com. If the $47.48 price target is reached, the company will be worth $1.33B 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 728,500 shares traded hands or 227.54% up from the average. BMO SP 500 INDEX ETF (TSE:ZSP) has risen 7.17% since April 6, 2016 and is uptrending. It has outperformed by 1.53% the S&P500.

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