The stock of BMO Equal Weight REITS Index ETF (TSE:ZRE) gapped down by $0.06 today and has $15.69 target or 14.00% below today’s $18.24 share price. The 6 months technical chart setup indicates high risk for the $367.36M company. The gap down was reported on Nov, 11 by Barchart.com. If the $15.69 price target is reached, the company will be worth $51.43M 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 19,524 shares traded hands. BMO Equal Weight REITS Index ETF (TSE:ZRE) has declined 2.72% since April 7, 2016 and is downtrending. It has underperformed by 8.86% the S&P500.
More notable recent BMO Equal Weight REITS Index ETF (TSE:ZRE) news were published by: Etfdailynews.com which released: “Tax Tips for BMO ETF Investors [BMO Equal Weight REITS Index ETF, BMO SP TSX …” on April 08, 2014, also Business.Financialpost.com with their article: “Battle of the Canadian REIT ETFs” published on October 21, 2011, Marketwired.com published: “BMO Asset Management Inc. Announces Index Changes to Three BMO ETFs” on May 19, 2016. More interesting news about BMO Equal Weight REITS Index ETF (TSE:ZRE) were released by: Business.Financialpost.com and their article: “BMO unveils more Equal Weighted ETFs; Emerging Markets and Real Return Bond ETFs” published on May 26, 2010 as well as Theglobeandmail.com‘s news article titled: “The case for and against real estate ETFs” with publication date: June 28, 2016.
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